Fintech frontrunner, iKhokha has launched its entry into the tap-on-phone market.
iK Tap on Phone, the name of the offering, will see small business owners accepting payments for their products or services using their Android smartphones.
The move comes amid a period of economic difficulty in the country, and a need for innovation to stimulate small business growth. From ballooning fuel prices to record unemployment rates, products like iK Tap on Phone lower the barrier to entry into the informal economy for citizens looking to take initiative.
The product uses Near-Field Communication (NFC) for contactless payments and looks to merge iKhokha’s trademark low transaction rates with ease of use for local entrepreneurs.
The fintech company’s entry into the tap-on-phone market was developed in South Africa, giving it a grounded understanding of the pain points and aspirations of local businesspeople.
iK Tap on Phone allows South Africa’s business owners to process real-time card payments on theirsmartphones with only a tap of any activated NFC-enabled device.
Here are 3 ways this nifty feature on the free iKhokha app could help small businesses and aspiring solopreneurs increase revenues and profit margins.
1. No upfront costs – besides your phone
iK Tap on Phone allows both business owners and side-hustlers to accept card payments without the upfront costs of buying a card machine. In the long run, this may lead to the democratisation of small businesses, with more people emboldened to start a business.
2. Take your backup device wherever you go
More established businesses such as retail stores and restaurants can also benefit from tap-on-phone technology. Portability, especially for deliveries, is one key element of the tap-on-phone experience, while it can also be used as an additional payment portal to make queues move faster, or when a power outage strikes.
3. Turn your lemons into lemonade
Another encouraging factor involves current trends around smartphone usage. Tap-on-phone technology will give ordinary people the chance to turn their smartphone usage into something positive that can change their lives and help others as well.
If you’re looking to stay ahead of the competition and surprise your customers with something new, you can try iK Tap on Phone on the free iKhokha app.
Learn more on www.ikhokha.com.
