The mobile money craze has hit Kenya and for over 10 years; advancement in Financial Technology (FinTech) has been on the rise yearly.
One cannot talk about FinTech without mentioning Kenya and particularly Safaricom PLC’s MPESA.
Many people see no need of going to the bank anymore as they can use their phones to transact. From paying for services, withdrawing and depositing money from and to banks, purchasing electricity, life has become easy for Kenyans.
However, in the whole scenario, records keeping is very important and that where Kibo Capital Group Limited comes in.
Founded by a young Kenyan banker and entrepreneur Jasper Ochieng, Kibo Capital offers a number of key services that also ensures that the future respects climate change.
Through their payment management service dubbed Payment Gate, the company offers a receipting solution that avails Universally Verifiable electronic receipts for both Mobile Money payments and banking deposits at branches, online banking or via Paybill.
This innovation delivers unique solution that is tailor made as per client’s specification for purposes of records management and comes with a marketing, Communications or adverts.
A sample receipt
This management functionality directly saves clients stationary costs and huge spending on marketing and advertisement.
‘Unlike most other traditional advertising channels, Payment Gate delivers a whole new world of functionalities with superior analytics hence giving you real value for your investment’, Jasper says.
Broken down, when one pays for a service or good, he/she receives a message with a link which when clicked, gives an instant branded e-receipts that is tamper proof showing the names, amount of the good/service purchased.
The solution mostly targets businesses, but for both the seller and buyer, an automated reconciliation happens, in that, one will never lose the records of his/her transaction just in case they would want to raise an issue or maybe return a purchase. This is done at no extra cost, for the businesses, it is an electronic clerk.
The businesses are also guaranteed to save on their stationery costs as the solution removes the necessity for physical printouts. This also means that one doesn’t need boxes and safes and big rooms to keep storing the receipts.
The clincher is this, one can advertise on the receipts to the millions of people using this service as the receipts come with advertising space for ones business.
Here is a video to demonstrate all these.
Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]
