- Kazang, prepaid value-added services (VAS) and card acquiring business under JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for Zambian merchants.
- This solution makes it affordable for merchants to accept card payments using the same Kazang terminal they use for selling prepaid products and services.
- The Kazang Pay-enabled terminal in Zambia accepts VISA debit and credit cards, along with mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day.
The launch of Kazang Pay in Zambia is on the heels of the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.
Consistent with about 3.8 million debit, credit and ATM cards reportedly in circulation alongside 41,000 point-of-sale (PoS) terminals operating in Zambia, Leon de Wit, managing director at Kazang Zambia, stated that the country has made significant progress in financial inclusion, with a rapid increase in card usage and penetration.
He noted that with Kazang Pay, merchants can seamlessly accept card payments using the same all-in-one terminal they already utilise for vending value-added services (VAS) products.
Leon de Wit highlighted that card transactions enable merchants to grow sales volumes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash.
“Moving towards digitalised payments will also enable merchants to track sales, manage cash flow, and create a footprint that could make it easier for them to access loans, ” he added.
Kazang offers cash and digital solutions for merchants in the informal economies of Southern Africa. Its fintech solutions include, value-added services (VAS), card acquiring, secure cash vaults, and supplier payment platforms.
With a network of around 90,000 active devices, the fintech processes approximately 2.2 million transactions daily in markets such as South Africa, Namibia, Botswana, and Zambia.
Kazang claims to be Zambia’s largest VAS point-of-sale terminal provider, enabling mobile money payments, bank and mobile money cash in and out, bill payments, airtime, Zesco, and many other prepaid services on one platform. It operates around 12,000 VAS terminals in the country.
