Kuda has launched its Kuda Business platform, which features both virtual and physical point-of-sale solutions tailored to simplify payment processing for freelancers, as well as small and medium-sized enterprises.
In a statement released on Tuesday, the company noted that
these new payment solutions are intended to enable businesses to accept
payments more swiftly, while also tackling significant issues such as slow
payment confirmations and disjointed banking services that many SMEs encounter.
Furthermore, the Virtual PoS empowers business owners to
handle payments efficiently using only account numbers, removing the necessity
for physical equipment.
“This innovative solution is appealing to businesses looking
to expand their operations while minimising costs, as it allows the creation of
multiple free terminal account numbers. These unique account numbers can be
assigned to sales staff, who will receive instant payment confirmations through
email, text message, or directly on their phones when customers make payments,”
the firm stated.
It was observed that these devices were specifically created
to facilitate card payments and bank transfers, offering the advantage of
instant settlement, which enables businesses to access their funds immediately
following transactions.
Regarding the launch, Kuda’s Vice President of Product and
Innovation, Nosa Oyegun, stated, “Our goal with the physical and virtual PoS
terminals is to empower Nigerian SMEs with tools that not only simplify payment
processes but also enhance their overall business efficiency. The virtual PoS,
in particular, represents the future of payment processing, eliminating the
need for hardware and reducing costs while ensuring that businesses receive
payment alerts instantly.
“For businesses that require face-to-face transactions, our
hardware POS offers speed and reliability, which are crucial for SMEs. We are
committed to addressing the unique pain points faced by Nigerian businesses,
such as delayed payment confirmations and fragmented banking services.”
Oyegun highlighted that the introduction of these POS
solutions serves as a testament to Kuda Business’ unwavering commitment to
fostering the growth and success of Nigerian SMEs.