How smart payments are building the township economy

South Africa's vibrant township economy has long been the backbone of entrepreneurship, representing hundreds of billions of rands in spending power. But these economic hubs face unique challenges. From rising crime to poor service delivery, township-based businesses have much to contend with.

Technology can help. In recent years, the infusion of smart technologies has revolutionised various sectors within the township economy and the payments space is no exception.

One solution in point-of-sale payments is the iK Flyer, a smart card machine developed by iKhokha, which is enabling small businesses to thrive.

At its core, the iK Flyer offers business owners a secure and efficient means to accept card payments.

However, the real drawcard of this smart device is the all-day battery life and multiple connectivity options. With 64% of business operations grinding to a halt during power outages, the importance of these “load-shedding proof” features cannot be overstated.

Mojo’s Car Wash and Shisanyama is a township-based business that has embraced this new-age card machine and is already enjoying the benefits.

Located in Wiggins (west of Durban), Mojo’s has grown from a humble corner car wash into an epicentre of entertainment. Managing Director, Zanele Khumalo, says the smart card machine is making it easier for her to run her business.

“We made the full switchover to the iK Flyer. Now we have five on-site. Our staff love it, because it’s much simpler than the other bank associated machines,” says Khumalo.

More ways to pay

One of the key advantages of the iK Flyer is its ability to accept payments from various sources, including debit and credit cards, SASSA cards and even contactless payments.

This versatility broadens the customer base for township businesses, as it accommodates the evolving preferences of the digitally connected population.

Speed up operations

Moreover, the iK Flyer empowers business owners like Khumalo to efficiently manage their products and finances.

It increases efficiency with faster transactions and streamlined business operations, and simplifies record-keeping via a comprehensive sales history on the iK Dashboard.

“What I found really interesting that I hadn’t seen before in a speedpoint was the fact that you could add your products onto the device. So, as you’re selling, you almost use the speedpoint as a till system,” says Khumalo.

iKhokha also incentivises merchants to put all sales through the device with dynamic rates that drop as the business grows.

“Our favourite part about the iK Flyer is that every time our customers use the machine, we can get a decrease on our rates,” she says.

An ever-evolving device

The iKhokha app runs natively on the device, so it is constantly improving through automatic updates. This means the device won’t need to be updated in the coming years, making it a savvy investment for cash-conscious business owners.

The iK Flyer is currently available for R999 (including a free charging base), making it the most affordable smart card machine on the market.

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Republished with permission from ITWeb Limited
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