iKhokha Wins International Innovation Award for its iK Tap on Phone Innovation
Top honors were awarded to the Durban-based fintech business iKhokha at the Dubai-based Mastercard EMEA EDGE Conference. iKhokha received recognition for its most recent product, iK Tap on Phone, and its effects on SMEs all around South Africa by winning the prestigious Accelerating Digital Acceptance in Africa award.
According to iKhokha CEO and co-founder Matt Putman, iKhokha was honored and humbled to be the only South African fintech recognized by the Mastercard EMEA team for our iK Tap on Phone product innovation and efforts to remove the barrier to financial inclusion for SMEs in South Africa.
“We are firmly focused on achieving our mission of helping bring the millions of cash-based SMEs in our country into the digital economy to continue to make business easier for the businesses which form the backbone of our economy,” says Putman.
Businesses are fast adopting these payment options for a variety of reasons, including safety, hygiene, and convenience, as more digital and contactless solutions emerge to threaten the historical dominance of physical cash. The need for new financial services and products has increased as a result of this change.
Despite being a difficult industry to manage, iKhokha continues to support small businesses by meeting one of their most crucial needs: having access to low-cost payment options. The most recent release from iKhokha, iK Tap on Phone, is revolutionary. Business owners may now accept card payments with only a quick tap of a customer’s bank card on their smartphone thanks to Near Field Communication (NFC).
All merchants need to do to access iK Tap on Phone is download the free iKhokha app. iKhokha’s rapidly growing product suite now offers business owners a wide variety of payment solutions to suit their business needs. In addition to freemium products, like iK Tap on Phone and iK Pay Link, which are available on the free iKhokha app, iKhokha also offers card machines for businesses at various stages of development.
The rise of e-commerce has also prompted the payment provider to explore remote payment solutions like iK Pay Gateway, the payment gateway for Wix and WooCommerce that makes it easier and more affordable for e-commerce businesses to receive online payments. iKhokha also offers businesses the opportunity to accelerate their business growth by accessing quick business funding. Through iK Cash Advance, iKhokha continues to promote small business growth and enablement despite having already provided SMEs with working capital advances totaling hundreds of millions of Rand.
iKhokha aims to eliminate the financial exclusion that small businesses have historically experienced through this mobile invention. Regardless of the size of their company, all business owners can now take part in the digital economy and know what it’s like to transact with simplicity thanks to payment options like iK Tap on Phone.