GRBusiness
Digital technology for small merchants to drive Africa to new era of financial inclusion, says Mastercard
Enabling higher levels of financial inclusion across Africa means banks and payments companies must drive solutions allowing small and informal merchants to accept digital payments at lower cost. Such solutions must be scalable, quick to implement, secure, and able to support legacy features and smart phone deployments.
This is according to the Vice-President of Product Development and Innovation at Mastercard South Africa, Gabriel Swanepoel, speaking at the PASA International Payments Conference, hosted this week at the Sandton Convention Centre by the Payments Association of South Africa.
He told delegates that 95 percent of retail transactions in Africa and the Middle East are still executed using cash, locking merchants and consumers into unnecessary risks and high transaction costs. To change this picture, payments companies should help merchants take advantage of the 84 percent mobile penetration across the region by offering them access to simple solutions for accepting card and digital payments using mobile technology. “Traditional payments solutions are not a good fit for many African merchants, particularly in the informal market,” he said.
“Our vision is to offer solutions that remove cost and complexity barriers from payments acceptance, including high monthly rentals and transaction costs, and the need for dedicated card payment terminals. These solutions enable greater acceptance of cashless payments, allowing merchants to support payment types from QR codes and plastic to legacy USSD interfaces,” he added.
Enabling more merchants to accept digital payments supports consumer choice and offers customers a more convenient, secure and frictionless payments experience. At the same time, it opens up new markets for small and medium businesses, provides data that could be used for credit scoring for smaller businesses, and reduces operational costs for businesses with thin margins.
This is why Mastercard has focused on enhancing and scaling its omni-channel acceptance solutions, enabling even the smallest businesses to accept digital payments using efficient and affordable technology. Mastercard offers simple solutions for small businesses to accept card and digital payments at physical retail points or on the go, through technologies like Masterpass and in partnership with innovators like iKhokha.
“In addition to focusing on the end-customer, financial inclusion must centre on the needs of small and informal businesses currently excluded from mainstream digital payments tools and technology infrastructure. It should also expand to focus on enabling person-to-person payments, bill payments, and airtime top-ups that make it easier for people to pay for what they want, when they want, using their preferred device or channel,” Swanepoel said.
Paul Stoddart, CEO of Vocalink, a Mastercard company, addressed the conference about how real-time payments are being used globally to provide a more seamless banking experience for the financially excluded, offering a level of trust that was previously only available through physical cash.
He told delegates about how PromptPay in Thailand is helping to create a cashless society, integrate the informal economy into the banking system, capture data on current social programmes, and introduce greater transparency.
“Real-time payment is the foundation of a new digital payments ecosystem and supports the move towards interoperability across the global payments landscape. Real-time payment schemes will enable new innovative services in the banking and retail sectors, and further disrupt the current global payments ecosystem,” he said.
“It benefits consumers with 24x7x365 convenience and ‘zero’ friction payments, while reducing crime, fraud and security issues related to cash handling, increasing velocity of money in the economy, and improving market efficiency.”
Energy
AVEVA is providing data management support for renewable natural gas projects
Reporter: Godwin Ezeh
Key Highlights
● AVEVA’s industrial information infrastructure has been selected by Archaea Energy to provide key data management support
● AVEVA’s industrial software to optimize performance across Archaea’s RNG plants
AVEVA, a global leader in industrial software driving digital transformation and sustainability, has been selected by Archaea Energy, the largest renewable natural gas (RNG) producer in the US, to build a comprehensive operations data management infrastructure.
Using AVEVA’s software, Archaea Energy can collect, enrich and visualize its real-time operations data, enabling performance analysis across its growing network of plants.
Using AVEVA PI Data Infrastructure, a hybrid solution with cloud data services, the plants will be able to share data to highlight operational opportunities and optimize efficiency.
Caspar Herzberg, CEO, AVEVA, stated,
“Through this collaboration and the use of AVEVA PI Data Infrastructure, Archaea’s growing network of plants will have streamlined operations with accurate performance analysis throughout the expansion. AVEVA’s CONNECT software platform leverages industrial intelligence from a central location, making it easier to deploy additional digital solutions in the future.”
“As the largest RNG producer in the United States, we are dedicated to delivering reliable, clean energy,” said Starlee Sykes, chief executive officer of Archaea Energy. “This relationship will allow us to optimize operations and offer detailed performance analysis as we continue to expand across the country.”
Micro, Small and Medium-sized Enterprises(SMBs) are the backbone of most economies accounting for 90% of businesses, over 70% of employment, and 50% of global GDP, according to the United Nations. They drive growth, innovation, and job creation worldwide.
In Nigeria, they play a crucial role in stimulating local economies and contributing to the country’s GDP.
Recognising their impact, WhatsApp is committed to empowering SMBs with the tools to succeed through the WhatsApp Business App, by reaching their customers where they already are.
WhatsApp continues to be the best way for people and businesses to get business done in Nigeria. With its efficient features, the WhatsApp Business App has become an indispensable tool for small businesses, helping them streamline communication, enhance customer engagement and drive sales. And we know customers love communicating with businesses over WhatsApp too, as nearly 80% of people globally message with a business at least once a week.
Whether you’re just starting out or looking to optimise your business operations, here are five essential WhatsApp Business features that can elevate your efficiency and customer interactions.
1. Catalog – Showcase Your Products and Services
Gone are the days of sending multiple images and descriptions individually to customers. With the Catalog feature, you can create a digital storefront where customers can browse your offerings within WhatsApp. This is just like a mini-website which makes it easier to showcase your products, prices and descriptions in an organised way.
How to Use It: Go to Business Tools > Catalog. Add product images, videos, names, descriptions and pricing.
2. Quick Replies – Save Time on Repetitive Questions
Answering the same customer questions repeatedly? Quick Replies let you create preset responses for frequently asked questions, saving you time and ensuring fast customer service.
How to Use It:Go to Settings > Business Tools > Quick Replies. Create and save responses such as a greeting message or order confirmation. Use the shortcut “/” to insert a quick reply in any chat
3. Labels – Stay Organised and Track Conversations
Managing multiple customer interactions can be overwhelming, but the Labels feature helps by categorising chats in different ways, such as order status or customer type. You can create labels with different colors or names and add the conversations to an entire chat. This keeps your inbox organised and ensures no customer is left waiting.
How to Use It: Open a chat, tap on the three-dot menu > Label Chat. Assign relevant labels like New Customer, Order Placed, Pending Payment.
4. Away Messages – Engage Customers Even When You’re Away
Never miss a customer inquiry again. Away Messages allow you to set up a greeting or away message, ensuring customers receive timely responses even outside business hours.
How to Use It: Go to Business Tools > Away Message / Greeting Message. Set up a custom message and schedule when it should be sent.
5. Meta Verified – For Enhanced Protection and Account Support
A paid subscription that helps your business build credibility with new audiences, Meta Verified can help drive more engagement and grow your brand. With Meta Verified, you’ll receive enhanced account support, can use WhatsApp across multiple devices and easily create a professional WhatsApp web page that’s tailored to you.
How to Use It: Go to Settings or Business Tools > tap Meta Verified.
WhatsApp Business is packed with features designed to help small businesses grow, stay organised, and engage with customers effortlessly. By leveraging these features, you can enhance your customer experience, increase efficiency and ultimately drive more sales. Start your own journey with the WhatsApp Business app here.
Bolt, the leading ride-hailing platform, on Thursday, 19th of March hosted an Iftar gathering in Kano to bring together Muslim drivers during the holy month of Ramadan.
The event was not only an opportunity to share a meal but also served as a platform for open dialogue, feedback exchange, and community building within the Bolt driver network.
The Iftar event, held in recognition of the significance of Ramadan, reinforced Bolt’s commitment to supporting its driver-partners and fostering inclusivity across all communities. The gathering provided an environment for drivers to voice their concerns, share their experiences, and engage directly with the Bolt team in a collaborative discussion about improving their experience on the platform.
Speaking during the event, Osi Oguah, the general manager for Bolt Nigeria said: “At Bolt, we recognize the importance of creating a supportive and inclusive environment for our driver-partners.
This Iftar event was more than just a meal, it was a chance to connect, listen, and understand the challenges and needs of our drivers in Kano. We appreciate their dedication, especially during this sacred period of Ramadan.”
Drivers in attendance expressed their appreciation for the initiative, highlighting the sense of belonging and recognition the event fostered. Many also welcomed the opportunity to discuss ways to improve their overall experience on the Bolt platform, making it a productive and meaningful engagement for all participants.
Nura Muhammed, a driver-partner said: “We want to say thank you to Bolt for this initiative, if my knowledge serves me right, this is the first time a ride-hailing company will organize such an event in Kano. This event has also made it possible for us to share some feedback to them physically and we drivers mostly get to connect through our online platform but today, we’re able to meet physically, mingle and exchange pleasantries”
Bolt remains committed to strengthening driver engagement and well-being, and this Iftar gathering is part of a broader effort to continuously support and empower driver-partners across Nigeria.
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