Kippa Payments, a Nigerian fintech startup that is rapidly growing, offers digital business and financial management services for SMEs in Africa. This digital payments platform allows customers to send and get payments and automate extended payments transactions.
Kippa Payments will be accessible within the existing app. This is the second product that the company has launched since June 2021, when it was founded.
Customers will be able send payments and transfers for bills as well as products or invoices to customers. This is possible for a small processing fee. This latest digital product can automatically detect, record, synchronise and therefore validate users’ business data, which was previously self-recorded by merchants on the app.
“The launch of Kippa Payments is a significant step in the expansion of our products for our fast-growing SME customer base,” says Kennedy Ekezie-Joseph, co-founder and chief executive of Kippa.
“Our latest digital payments solution further strengthens our position as one of the go-to apps for SMEs in Africa to manage their daily business and finance needs, and marks the next stage for Kippa’s growth as we look to expand our product range, attract new customers, and launch into new markets across sub-Saharan Africa.”
The company stated that it hopes to use its fintech solutions to support small businesses and drive socio-economic prosperity throughout the continent.
Business management simplified
Kippa is committed to keeping its principle of simplicity in this product launch. Kippa Payments mimics the familiar WhatsApp app that its customers use every day.
The company’s products are available for any business, with its current target audience being SMEs in Nigeria who wish to simplify their business management needs through digital solutions, as well as send and receive money.
The first product is a mobile bookkeeping app that helps merchants manage their business processes, invoicing, and debt management. It has been used by more than 350 000 SMEs in Nigeria.
It also offers a Kippa Start business registration service, which allows informal entrepreneurs in Nigeria to register their businesses within 72 hours for a very low price and with a free legal consultation.
Kippa Start was launched to help bridge the gap between Nigeria’s formally registered and informal number of businesses, where fewer than 80 000 out of Nigeria’s 47 million SMEs per year formally register their business, often due to high costs and the complexity of the process.
Jephtah Chidozie-Uche, co-founder and chief technology officer, adds: “We are very proud to be launching our new digital payments solution today, which comes at a key time for Nigeria’s fintech sector, as demand from SMEs for digital payments solutions continues to rise.
“Kippa Payments will also enable us to have a deeper understanding of our customers through transactional data, so that we can offer more tailored and bespoke products over time, unlocking deeper value within the Kippa ecosystem alongside our existing solutions.”
Kippa is available in both the iOS and Google Play app stores. Existing users will automatically be updated with the Kippa Payments solution. Kippa payments can be accessed. downloaded online.