August 29, 2019
It’s Tyme To Disrupt Banking
September 6, 2022
June 28, 2022
November 13, 2019
Shaylin, a talented independent artist, passionately transforms blank canvases into stunning pieces influenced by geek culture, comic books, and an increasing lean toward conceptual art. The power to create something from nothing thrills him, and his recent “You Save the World Series” speaks to his growing ambition.
Navigating the complex art world since 2018,he found solace and growth in digital solutions. He uses iKhokha, a simple and accessible digital payment platform, enhancing his client interaction and fueling his business growth. Shaylin’s journey is a testament to how emerging technologies empower independent artists to make their mark.
Adrie Lamprecht, the proud owner of Lash4Lash, has always been passionate about enhancing natural beauty through her handcrafted lash extensions. Her business has flourished through establishing deep connections with her clients, seeing their confidence and happiness soar post-transformation.
When her business grew, she turned to iKhokha, an easy-to-use, fast, and loved mobile payment solution. Not only did iKhokha simplify transactions, but its cash advance feature also gave her business a much-needed boost. With her eyes set on the future, Adrie dreams of opening a training centre to empower more women, demonstrating how iKhokha aids small businesses in reaching their full potential.
At Yanick’s Barber Shop in Kraaifontein, they’re not just about haircuts. Yanick November started out small, cutting his brothers’ hair. His dream took shape after high school with the help of a loan from his mother. Everyone knew him in his community, but seeing him start his own business was different – something they could support.
Yanick’s not just a barber; he’s a role model. Alongside his wife’s nail salon next door, they’ve created a haven for relaxation and laughter. They’ve embraced iKhokha’s ‘Tap on Phone’ payment solution as it’s easier and safer than cash. Surprised customers quickly warmed to this innovative payment method. Yanick loves his work, and his passion is evident in his successful business, facilitated by iKhokha’s easy payment solutions.
Guida, the owner of Quic-Grow, the grass company, has a passion for the outdoors and a talent for creating complex seed mixes suited to various conditions, soils, and seasons. She began the business independently, but its success soon allowed her husband to join. Guida’s weekends are spent running a flea market where she can connect with customers, advising and finding solutions for their lawns. They cater to a diverse clientele, from schools and farmers to landscapers and general green thumbs.
Incorporating iKhokha into their business has streamlined payments, with an online facility for their website and a convenient app for flea market transactions. Guida looks forward to growing Quic-Grow and attracting more satisfied customers, made possible by ikhokha’s ease and efficiency.
A national tourist guide in South Africa for over 20 years, Hercules offers his clients an all-encompassing tour of the country, from Johannesburg to Cape Town. As the middleman, he typically collects cash from tourists to book and pay for excursions, a method that had been in place for a decade. However, with iKhokha’s introduction, Hercules attempted a cashless tour, resulting in a resounding success.
The switch to iKhokha, enabling tourists to simply tap their card on Hercules‘ phone to pay for excursions, proved to be safer and more convenient. This newfound ease led to an increase in excursion sales by 10-20%, boosting the local economy and breathing new life into South African tourism. Hercules now sees a bright future for tourism in his beautiful country.
August 29, 2019
September 6, 2022
June 28, 2022
November 13, 2019
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In a time of accelerating digital transformation, the roles of fintechs and modern payment solutions are becoming ever more crucial. As Gabriel Swanepoel, Country Manager of Mastercard Southern Africa, says, “Mastercard is effectively a technology company that provides services not just within the payments space, but also focused around payment enablement”. Fintechs in South Africa play a pivotal role in expanding acceptance infrastructure and making financial services available to merchants.
This sentiment is echoed by Matt Putman, Co-founder and CEO of iKhokha, who highlights the potential of small and medium enterprises (SMEs) as an economic force historically underserved by traditional financial institutions. He notes that around 50-60% of all jobs and 40% of GDP in South Africa come from the SME sector. However, due to their reliance on cash-based transactions, many SMEs lack a credit track record, which prevents them from accessing working capital to grow.
This is where iKhokha steps in, providing a platform to help formalize these businesses and thereby facilitate their growth. The company’s partnership with Mastercard has multiple facets, including deploying new technology, like ‘tap on phone’, which simplifies card payments by transforming a merchant’s smartphone into a card reader. The partnership also aims to educate grassroots-level entrepreneurs about new technologies and promote acceptance among SMEs.
Ramsay Daly, iKhokha’s Co-founder, builds upon this by highlighting the shift in the company’s focus from card payment to creating a holistic ecosystem that provides SMEs with tools to manage and grow their businesses. The development of ‘tap on phone’ technology removed the barrier of purchasing a hardware device, marking a significant stride towards achieving scale through mobile.
By enabling business owners, iKhokha empowers them to employ more people, improve livelihoods, and drive change. Swanepoel reinforces this, viewing Mastercard’s role as an enabler that supports fintechs and banks to expand the ecosystem. As such, the collaboration between fintechs like iKhokha and payment technology giants like Mastercard is not just enabling business growth but also promoting economic development and financial inclusivity in South Africa.