Running a business isn’t easy. Luckily, tech companies are making it easier for all business owners to run and grow their businesses.
iKhokha is one of South Africa’s leading financial technology companies. Operating from their headquarters in Umhlanga, iKhokha is constantly developing solutions to help businesses rise.
For physical stores
iKhokha is best known for their card machines. But how are their devices different from traditional bank speed points?
In the past, businesses paid rental fees to the banks to use their card machines. With iKhokha, business owners can buy a device outright to avoid monthly rental fees.
Every financial services provider charges a transaction fee when card is swiped, tapped, or inserted into a card machine.
iKhokha further incentivises their merchants by dropping their transaction rates (starting at 2.75%) the more they sell.
For e-commerce businesses
But iKhokha’s business tools aren’t only available to physical businesses. Ecommerce businesses can also profit from their products.
The latest is the iK Pay Gateway, a payment gateway for WordPress (WooCommerce) websites that enables digital businesses to accept debit and credit card payments.
Soon to be available on Wix, this payment gateway also offers the lowest starting transaction rates in Africa at 2.85% per transaction.
For freelancers & remote workers
For businesses and individuals that don’t have an online store but still want to accept card payments online, iKhokha offers iK Pay Link.
Using the free iKhokha app, merchants can send a payment link to a customer via social media, WhatsApp, SMS, or email.
Merchants can even add the link to digital invoices!
For side hustlers
iKhokha also offers a way for all merchants to immediately increase their basket size. It’s called iK Vend, another nifty feature on the iKhokha app.
With iK Vend, merchants can sell digital services like prepaid airtime, data and SMSs. They can also sell prepaid utilities and settle various bills, including traffic fines and DStv bills.
For those seeking funding
iKhokha also offers qualifying merchants access to funding via iK Cash Advance on the iKhokha app.
Similar to a short-term loan, a cash advance gives businesses a cash injection when they need it most – helping them to avoid cash flow issues, order stock, cover a shortfall, or upgrade equipment.
Best of all, the iK Cash Advance incurs no compound interest and is repaid with a percentage of future card sales. It’s a popular product as over 65% of cash advance users choose to take another cash advance once paid back.
As iKhokha continues to grow, the business promises to add more products in the physical and digital payments space to make business easier for South Africa’s small businesses.
Visit www.ikhokha.com for more information.