BUSINESSNews

DPO Group introduces Real-Time Settlements on digital payments for sole trader merchants in Kenya


African payment service provider DPO Group has launched Real-Time Settlements for its SME sole proprietor merchants in Kenya.

86% of SMEs cite cashflow constraints as affecting their ability to pay employees and operating costs according to the Kenya Association of Manufacturers. Real-Time Settlements will allow SMEs to receive customer payments instantly, instead of having to wait up to one week for funds to be settled, reducing the need for short term financing, improving cash flow and boosting business efficiency.

Merchants who use the DPO payment card will be able to take advantage of reduced settlement times to free up the essential funds their businesses need to grow. Payments can be settled by merchants instantly onto their physical DPO Prepaid Card, powered by Mastercard, in local currencies and USD.

Launched in June 2019, the DPO Card, Africa’s first business to business (B2B) prepaid payment card, is now available to DPO merchants across the continent. The DPO Card allows African businesses to transact securely throughout the continent and internationally, drastically increasing the financial inclusion of African companies in the global economy.

As well as being instant, DPO’s Real-Time Settlement service is a flexible and secure way for merchants to settle payments. DPO has developed highly sophisticated, end-to-end fraud prevention and risk management systems, and holds PCI DSS Level 1 Certification in all 19 markets in which it operates.

“It is more important than ever that we help our SME merchants navigate the economic uncertainty posed by the pandemic. We understand that instant settlements are a key priority for our merchants, and we have taken on this feedback to develop a solution that will dramatically transform the way they can operate, cutting down settlement times from up to one week to within fifteen minutes.  This will allow them to worry less about immediate cash-flow, knowing that they’ll receive payment for goods and services sold to customers immediately and allow them to focus more on business growth.” Eran Feinstein, CEO of DPO Group said.

“I’m delighted to be introducing this cutting edge solution which will enable our merchants not only to be crisis resilient, but to thrive and expand.”

Follow us on TelegramTwitterFacebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates.

Facebook Comments

Nixon Kanali

Tech journalist based in Nairobi. I write about tech, business and African startups. Founder and Editor For TechTrendsKE. Nixon is also the East African tech editor for Africa Business Communities. Send tips to nkanali@techtrendske.co.ke.

Leave us a comment

Back to top button