Kuda, through its Kuda Business platform, has launched new virtual and physical point-of-sale (PoS) products to streamline payment processing for freelancers and small and medium-sized enterprises (SMEs). The solutions aim to address key challenges faced by African businesses, such as delayed payment confirmations and fragmented banking services.
In a statement released on Tuesday, Kuda highlighted that its Virtual PoS allows businesses to process payments efficiently using only account numbers, eliminating the need for physical PoS hardware. This solution enables businesses to scale while minimizing costs by generating multiple terminal account numbers, which can be assigned to sales staff. Payments are instantly confirmed via email, text, or directly on mobile devices.
Additionally, Kuda’s physical PoS devices are designed to handle both card payments and bank transfers with immediate settlement, giving businesses instant access to funds after transactions.
Vice President of Product and Innovation at Kuda, Nosa Oyegun, emphasized the company’s commitment to enhancing the efficiency of SMEs. “Our goal with the physical and virtual PoS terminals is to empower African SMEs with tools that simplify payment processes and improve business operations. The virtual PoS represents the future of payments by reducing the need for costly hardware while ensuring instant payment alerts.”
He added that the physical PoS offers speed and reliability, critical for businesses that rely on face-to-face transactions. Oyegun concluded, “This initiative demonstrates Kuda Business’ dedication to addressing the pain points faced by African SMEs and supporting their growth.”
