Source: Punch Newspaper
Kuda, through its Kuda Business platform, has rolled out both virtual and physical point-of-sale (PoS) solutions aimed at simplifying payment processes for freelancers, as well as small and medium-sized enterprises (SMEs).
In a statement on Tuesday, the company announced that these newly introduced payment options are designed to help businesses process payments more efficiently while tackling key issues like delayed payment confirmations and disjointed banking services that many SMEs encounter.
The company highlighted that the Virtual PoS allows business owners to handle large-scale payments using only account numbers, eliminating the need for physical PoS hardware.
“This cutting-edge solution is particularly attractive to businesses seeking to expand while keeping costs down, as it enables the creation of multiple free terminal account numbers. These unique account numbers can be assigned to sales personnel, who will receive immediate payment notifications via email, SMS, or directly on their phones whenever customers complete transactions,” Kuda explained.
The company further mentioned that these devices are built to handle both card payments and bank transfers, offering the added advantage of instant settlement. This ensures that businesses have immediate access to their funds following transactions.
Commenting on the launch, Nosa Oyegun, Vice President of Product and Innovation at Kuda, said: “Our aim with both the physical and virtual PoS terminals is to equip Nigerian SMEs with tools that not only streamline payment processes but also boost their overall business efficiency. The virtual PoS, in particular, signifies the future of payment systems by eliminating the need for hardware and reducing costs, all while ensuring businesses receive real-time payment notifications.
“For businesses requiring in-person transactions, our hardware PoS provides the speed and reliability that are essential for SMEs. We are dedicated to resolving the specific challenges faced by Nigerian businesses, such as delays in payment confirmations and fragmented banking services.”
Oyegun also emphasized that these new PoS solutions underscore Kuda Business’ ongoing commitment to fostering the growth of Nigerian SMEs.
