With its Kuda Business platform, Kuda has unveiled both physical and virtual point-of-sale solutions designed to streamline payment processing for small and medium-sized businesses as well as independent contractors.
The company said in a statement on Tuesday that the recently introduced payment solutions are intended to assist companies in accepting payments more quickly while tackling significant issues like fragmented banking services and delayed payment confirmations, which many SMEs encounter.
It further stated that the Virtual PoS did away with the necessity for physical hardware by enabling business owners to process payments at scale with just account numbers.
“This creative solution, which enables the creation of multiple free terminal account numbers, appeals to companies seeking to grow while keeping expenses as low as possible. When customers make payments, sales employees can be given these special account numbers and will instantly receive payment confirmations via text message, email, or their phones, according to the company.
According to the report, those gadgets were made to process bank transfers and card payments with the extra advantage of instant settlement, which enables companies to get their money right away after a transaction.
Speaking about the launch, Vice President of Product and Innovation at Kuda, Nosa Oyegun, said: “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. Specifically, the virtual point of sale (PoS) is the payment processing of the future; it ensures that businesses receive payment alerts instantly, reduces costs, and does away with the need for hardware.
