visa I'm teaming up with Little Fishomnichannel platform that helps financial institutions provide services to small and medium-sized enterprises.
The partnership will support micro, small and medium-sized businesses (MSMEs) across Africa by streamlining in-store and online digital experiences, he said on Thursday (October 17) in a news release provided to PYMNTS.
“In spite of the global rise in digital payments, the majority of daily transactions in Africa are still in cash, particularly highlighting the critical needs of MSME's accessible and efficient digital systems,” the release states.
“Through this partnership, Visa and Littlefish will provide the first unique solution to empower banks and financial institutions that will encourage digital enablement of MSMEs in Africa.”
This solution is a platform that provides merchant payment solutions with traditional POS (POS) systems, mobile POS and mobile POS. tap2phone The e-commerce channel provides products and services designed to help merchants streamline their business and expand their market reach.
The partnership will also implement Visa Cyberseus Solutions Both POS and e-commerce transactions.
“This strengthens our value-added services outlook, including secure payment processing, further issuance, remittance flows, lending products and future opportunities for loyalty programs,” the release said. “These products ensure that MSMEs have access to a comprehensive suite of financial tools to grow their business.”
Pymnts examined the pressures facing SMEs earlier this week in a conversation with Elliot Buchananpresident of Priority Technology Venture.
“Essentially, small businesses just want to control their business,” Buchanan told Pymnts. “To control your business is key to survival and that control is often compromised when there is no cash flow visibility.”
From forecasting to cost management, billing, and these entrepreneurs I often fight They use a process optimized by their larger rivals.
This leads to a situation in which many small and medium-sized businesses (SMBs) function without a clear view of their current financial health. This lack of clarity creates major operational risks, especially when combined with common problems of Delayed payment From the client.
“Business owners often get paid at the end or last, even if they're late,” Buchanan explained, highlighting the challenges that further disrupt the predictability of cash flow.
