kippa launches new digital payments product for smes

  • 19 May 2022
  • 100
kippa launches new digital payments product for smes
Kippa Payments, which will be available to access within the existing app, is the second product launched by the firm since it was founded less than a year ago in June 2021.

Customers will now be able to send transfers and payments for bills, as well as products and invoices to customers, contained with embedded payment links for a small processing fee. This latest digital product can automatically detect, record, synchronise and therefore validate users business data, which was previously self-recorded by merchants on the app.

The launch of Kippa Payments is a significant step in the expansion of our products for our fast-growing SME customer base, says Kennedy Ekezie-Joseph, co-founder and chief executive of Kippa.

Our latest digital payments solution further strengthens our position as one of the go-to apps for SMEs in Africa to manage their daily business and finance needs, and marks the next stage for Kippas growth as we look to expand our product range, attract new customers, and launch into new markets across sub-Saharan Africa.

Ultimately, the company says it wants to leverage its proprietary fintech solutions to help small business owners flourish, driving socio-economic prosperity across the continent.

Simplifying business management
Kippa has committed to maintaining its principle of simplicity with this latest product launch, ensuring that Kippa Payments is easy to use, mimicking the familiar WhatsApp app used by its customers every day.

The companys products are available for any business, with its current target audience being SMEs in Nigeria who wish to simplify their business management needs through digital solutions, as well as send and receive money.

The first product is a simple-to-use, mobile bookkeeping solution used by over 350 000 SMEs in Nigeria which helps merchants to run their business processes, manage inventory, invoicing and debt management on the app.

It also provides a simple business registration service called Kippa Start, which allows informal business owners in Nigeria to register their business within 72 hours at low cost, including free legal consultation.

Kippa Start was launched to help bridge the gap between Nigerias formally registered and informal number of businesses, where fewer than 80 000 out of Nigerias 47 million SMEs per year formally register their business, often due to high costs and the complexity of the process.

Jephtah Chidozie-Uche, co-founder and chief technology officer, adds: We are very proud to be launching our new digital payments solution today, which comes at a key time for Nigerias fintech sector, as demand from SMEs for digital payments solutions continues to rise.

Kippa Payments will also enable us to have a deeper understanding of our customers through transactional data, so that we can offer more tailored and bespoke products over time, unlocking deeper value within the Kippa ecosystem alongside our existing solutions.

The Kippa app is available on Google Play and the iOS app store, and will be updated automatically with the Kippa Payments solution for existing users. Kippa Payments can be accessed and downloaded online .