Network International, a leading digital payment company has introduced an array of physical payment solutions to Kenya with the intent of catalyzing commerce within the country. The company has introduced point-of-sale machines with QR code options, ensuring inclusivity and increasing the penetration of digital transactions across merchants.
In a statement, the company said these POS systems will, in addition to enhancing financial inclusion, give merchants more reasons to increase their businesses. "This will ensure that no customer is excluded from making payments, leading to more business opportunities and increased revenue for merchants," it said.
New Features of the POS Solutions
Perhaps one of the most striking features of this launch is that merchants will receive POS systems for free. This shall be helpful to the SMEs, as businesses of all sizes will be able easily to accept modern payments. The POS systems will accept mobile wallets and cards to help a wide range of payment preferences. This will be able to track and reconcile both mobile money and card transactions under one reference point for merchants.
Network's POS terminals are fitted with an extensive range of features such as the ability to process payments and record transactions, order taking and payment, inventory tracking, analyzing buying trends, generating invoices, collecting marketing data. These will not only enable operational efficiency but also enhance data-driven decision-making of the merchant.
Entrance into the In-Person Payments Market
While it has been in online payment solutions across Africa, Network International is expanding its reach to cover the in-person payments market. According to Judy Waruiru, the Regional Managing Director for Network in East Africa, this POS launch forms part of a broader strategy that will underpin its presence in the region. "We are bringing into the African continent what we are known for globally, and Kenya is one of the key hubs for East Africa," she said.
Market of Point of Sale in Kenya
Data from the Central Bank of Kenya shows that the number of POS machines in the country increased to 55,838 as of June 2024 from 55,831 recorded the previous month. These minimal strides indicate that Kenya is increasingly opening its doors to digital payment systems, and businesses are heeding the call by adopting such solutions to suit changing customer needs.