With the use of contactless payments heating up around the world, small and mid-sized businesses (SMEs) and their solution providers have to prepare for their acceptance. ZB Bank has unveiled Cheka, a mPOS product that enables online businesses and platforms to accept in-person payments from anywhere. The Cheka mPOS machine that allows you to accept payments from any ZimSwitch enabled bank/ATM card.
The product allows SMEs to accept payments and also measure company performance, eyeing metrics such as inventory and which products are among the highest-selling offerings.
The backdrop is one where roughly 85 percent of small businesses in Zimbabwe accept card payments, and yet the card penetration rate is 75 percent.
Zimbabwe is going cashless, we all know it’s not because of a collective decision but rather necessity. We do have a serious cash crisis in this country and swipe, ZIPIT, mobile money and RTGS have played a significant role in alleviating the people from the full wrath of the crisis.
We have ask ZB bank for more info on the product and we will update the article once we have it.
update: The Cheka mPOS are available on rental bases for $75 per month.