Kazang (www.Kazang.com), the pay as you go value-added providers (VAS) and card buying enterprise inside JSE-listed fintech Lesaka Applied sciences, has launched its Kazang Pay card acceptance resolution for retailers in Zambia. Kazang Pay makes it reasonably priced for retailers to just accept card funds on the identical Kazang terminal they use to promote pay as you go services and products.
The Kazang Pay enabled terminal in Zambia accepts VISA debit and bank cards in addition to cellular pockets funds. Funds are settled to the service provider’s Kazang pockets on the identical day. It’s as simple as letting the client faucet or insert their financial institution card and enter their PIN on the safe scramble PIN pad.
Kazang operates round 12,000 VAS terminals in Zambia. The objective is to allow the bulk to just accept card funds over the subsequent six months. Advantages to retailers embrace low transaction charges and no month-to-month terminal rental payment for people who meet a modest month-to-month transaction threshold in addition to the chance to develop their enterprise via card acceptance.
Kazang is Zambia’s largest VAS point-of-sale terminal supplier, enabling cellular cash funds, financial institution and cellular cash money out and in, invoice funds, airtime, Zesco, and lots of different pay as you go providers on one platform. The addition of card acceptance makes the platform much more complete for retailers and shoppers alike.
The launch of Kazang Pay in Zambia follows the introduction of the answer in South Africa, the place round 60,000 small and micro retailers use Kazang Pay to just accept card funds. In Zambia, there are round 3.8 million debit, credit score and ATM playing cards in situation and 41,000 level of sale (POS) terminals in place. The worth of POS transactions has grown to Ok 111.4 billion by 2022 from lower than Ok 20 billion in 2018, in line with the Financial institution of Zambia.
Says Leon de Wit, managing director at Kazang Zambia: “Zambia has made monumental strides when it comes to monetary inclusion, with card utilization and penetration rising at a fast tempo. With Kazang Pay, retailers can now simply settle for card funds on the identical all-in-one terminal they already use for merchandising of VAS merchandise.
“Card transactions assist retailers to develop basket sizes and probably appeal to extra clients, and on the identical time, cut back the dangers and prices of dealing with money. Transferring in the direction of digitalised funds may also allow retailers to trace gross sales, handle money movement, and create a footprint that might make it simpler for them to entry loans.”
Ashley Naidoo, director of Kazang Pay in South Africa says: “Our Zambian retailers have eagerly embraced our card buying service as a invaluable a part of our one-stop resolution. Following the launch of Kazang Pay in Zambia, we’ve seen greater VAS gross sales throughout our service provider base and much-improved service provider retention and with our card buying resolution we now enchantment to a broader service provider base.”
Distributed by APO Group on behalf of Kazang.
Despatched on behalf of Kazang
For questions contact:
Jacqueline B Mayer
jacqueline@ideaengineers.co.za
ABOUT KAZANG:
Kazang (www.Kazang.com) is a number one supplier of money and digital options to retailers in Southern Africa’s casual economies. Our fintech options embrace a various vary of value-added providers (VAS), card buying, safe money vaults and provider funds platforms. Working with a community of roughly 90,000 lively units, we course of roughly 2.2 million transactions each day in markets reminiscent of South Africa, Namibia, Botswana, and Zambia.
We’re devoted to serving to small and medium retailers develop and succeed, via growing their gross sales, making their companies extra environment friendly and lowering their dangers with its holistic portfolio of services and products. Kazang is a member of Lesaka Applied sciences (https://LesakaTech.com).
ABOUT LESAKA TECHNOLOGIES, INC:
The Join Group and Kazang was acquired by Lesaka Applied sciences, Inc. in April 2022. Lesaka Applied sciences, (Lesaka™) is a South African Fintech firm that makes use of its proprietary banking and fee applied sciences to ship superior monetary providers options to retailers (B2B) and shoppers (B2C) in Southern Africa. Lesaka’s mission is to drive true monetary inclusion for each service provider and shopper markets via providing reasonably priced monetary providers to beforehand underserved sectors of the economic system. Lesaka gives money administration options, progress capital, card buying, invoice fee applied sciences and value-added providers to retail retailers in addition to banking, lending, and insurance coverage options to shoppers throughout Southern Africa.
Lesaka has a main itemizing on NASDAQ (NasdaqGS: LSAK) and a secondary itemizing on the Johannesburg Inventory Alternate (JSE: LSK). Go to www.LesakaTech.com for added details about Lesaka Applied sciences (Lesaka ™). $LSK / $LSAK