Kazang has introduced its Kazang Pay card acceptance solution for Zambian retailers, enabling them to accept card payments using the same Kazang terminal they use for selling prepaid items and services.
Zambia’s Kazang Pay-enabled terminal accepts VISA debit and credit cards, as well as mobile wallet payments. The system transfers payments to the merchant’s Kazang wallet on the same day. The consumer simply taps or inserts their bank card and inputs their PIN into the protected scramble PIN pad.
Ashley Naidoo, director of Kazang Pay in South Africa, says, “Our Zambian merchants have eagerly embraced our card-acquiring service as a valuable part of our one-stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much-improved merchant retention, and with our card acquiring solution, we now appeal to a broader merchant base.”
Over the course of the next six months, the majority should be able to take card payments. Low transaction costs, the possibility to expand their business through card acceptance, and the possibility of no monthly terminal rental fee—all come with advantages for businesses who satisfy a moderate monthly transaction threshold.
Kazang is 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. The addition of card acceptance makes the platform even more comprehensive for merchants and consumers alike.
The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.  In Zambia, there are around 3.8 million debit, credit, and ATM cards in issue and 41,000 point of sale (POS) terminals in place. The value of POS transactions has grown to K 111.4 billion by 2022 from less than K 20 billion in 2018, according to the Bank of Zambia.
Zambia has made enormous strides in terms of financial inclusion, with card usage and penetration growing at a rapid pace. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending of VAS products.” Leon de Wit, managing director at Kazang Zambia
“Card transactions help merchants to grow basket sizes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash. Moving towards digitalized 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.”The post Kazang Pay: New Card Acceptance for Zambian Retailers first appeared on IT News Africa | Business Technology, Telecoms and Startup News.