Running a business is not easy. Fortunately, technology companies make it easier for all business owners to manage and grow their business.
iKhokha is one of South Africa’s leading fintech companies. Operating from its headquarters in Umhlanga, iKhokha is constantly developing solutions to help businesses grow.
For physical stores
iKhokha is best known for its card machines. But how are their devices different from traditional banking speedpoints?
In the past, businesses paid rental fees to banks to use their card machines. With iKhokha, business owners can purchase a device directly to avoid monthly rental fees.
Every financial service provider charges a transaction fee when a card is swiped, tapped or inserted into a card machine.
iKhokha further incentivizes its merchants by lowering their transaction rates (from 2.75%) the more they sell.
For e-commerce businesses
But iKhokha’s business tools are not only available for physical businesses. E-commerce businesses can also profit from their products.
The last is the iK payment gatewaya payment gateway for WordPress (WooCommerce) websites that allows digital businesses to accept debit and credit card payments.
Coming soon to Wix, this payment gateway also offers the lowest starting transaction rates in Africa at 2.85% per transaction.
For freelancers and teleworkers
For businesses and individuals who 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 those looking for funding
iKhokha also offers eligible merchants access to funding through 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 avoid cash flow problems, order inventory, cover a shortfall or upgrade equipment.
Best of all, the iK Cash Advance incurs no compound interest and is paid back with a percentage of future card sales. It’s a popular product because over 65% of cash advance users choose to take another cash advance once they’ve paid off.
As iKhokha continues to grow, the company promises to add more products (in the physical and digital payments space) to make it easier for small South African businesses to do business.
Visit www.ikhokha.com for more information.