Nigerian fintech start-up Kippa launches digital payments offering for African SMEs
Nigerian fintech start-up Kippa has launched a new digital payments offering called Kippa Payments, built to enable small and medium-sized enterprises (SMEs) in Africa to send and receive payments from within the Kippa app.
Kippa launches digital payments service
It is the second product launched by the firm since it was founded less than a year ago – in June 2021.
Kippa says that customers will now be able to transfer money, make bill payments and send invoices containing embedded payment links for a small processing fee.
The company claims that its new payments feature automatically detects, records and validates users’ business data, which was previously self-recorded by merchants on the app.
Kippa’s target audience is SMEs in Nigeria who wish to simplify their business management needs through digital solutions, as well as send and receive money.
The Lagos-based company aims to unlock socio-economic prosperity in sub-Saharan Africa by helping SMEs grow their business and embrace financial inclusion.
It first launched a mobile bookkeeping solution helping businesses manage inventory, invoicing and debt on the app. Kippa claims it is now used by over 350,000 SMEs in Nigeria.
The company also provides a business registration service called Kippa Start, which allows informal business owners in Nigeria to register their business within 72 hours at a low cost, including free legal consultation.
“Our new digital payments solution comes at a key time for Nigeria’s fintech sector, as demand from SMEs for digital payments solutions continues to rise,” says Jephtah Chidozie-Uche, Kippa co-founder and CTO.
“Kippa Payments will enable us to have a deeper understanding of our customers through transactional data, so that we can offer more tailored products over time.”
