Kazangprepaid value added services (VAS) and card acquisition within JSE-listed fintech Lesaka Technologieslaunched Kazang Pay card acceptance solution for merchants in Zambia.
Kazang Pay makes it affordable for merchants to accept card payments at the same Kazang terminal they use to sell prepaid products and services.
Details
The Kazang Pay terminal in Zambia accepts VISA debit and credit cards as well as mobile wallet payments. Payments are settled in the merchant’s Kazang wallet on the same day. It’s as easy as letting the customer tap or enter their bank card and enter their PIN on the secure code pad. Kazang works approximately 12,000 VAS terminals in Zambia.
Because this matters
The aim is to enable the majority to accept card payments in the next six months. Benefits for merchants include low transaction fees and no monthly terminal rental fee for those who meet a modest monthly transaction limit, as well as the opportunity to grow their business through card acceptance.
About Kazang
Kazang is Zambia’s largest provider of VAS point of sale terminals, enabling mobile money, banking and mobile money payments with cash and withdrawals, bill payments, airtime, Zescoand many other prepaid services on one platform. The addition of card acceptance makes the platform even more complete for both merchants and consumers.
By The Numbers
The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where approx 60,000 petty traders and merchants use Kazang Pay to accept card payments.
In Zambia, there are approximately 3.8 million debit, credit and ATM cards in the matter and There are 41,000 point-of-sale (POS) terminals.. The value of POS transactions has grown to K111.4 billion by 2022 from less than K20 billion in 2018, according to the Bank of Zambia.
What They Say
He says Leon de Witmanaging director of Kazang Zambia:Zambia has made huge strides in terms of financial inclusion, with card usage and penetration growing rapidly. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use to sell VAS products.
“Card transactions help merchants increase basket sizes and potentially attract more customers while reducing risk and cash management costs. The move to digital payments will also enable merchants to track sales, manage cash flow and create a footprint that could facilitate access to loans.”
Ashley NaidooKazang Pay South Africa manager says:Our Zambian merchants have eagerly embraced our card acquisition service as a valuable part of our one stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much improved merchant retention and with the card acquisition solution we are now appealing to a wider merchant base.”
Stay up to date with news and other items on our WhatsApp Community Page, Twitter/Xand subscribe to our weekly newsletter to make sure you don’t miss any news.
Related
