Sparkle, a mobile-first digital ecosystem providing financial, lifestyle and business support services to Nigerians across the globe, has launched Sparkle Business, a new set of features to help power small businesses and SMEs.
Sparkle Business comes with an inventory and invoice management feature, a payment gateway, tax advisory or calculations and a payroll/ employee management feature to help SMEs run their businesses with ease at the touch of a button.
According to Uzoma Dozie, Founder and CEO of Sparkle, “SMEs are the largest employer of labour in Nigeria but are lacking access to basic services that will help their businesses. We have introduced Sparkle Business as a one-stop-shop, to help individuals to launch their businesses digitally, while meeting existing SMEs’ pain points, and allowing them to pivot to the next level of success.”
Launched last year with a banking license from the Central Bank of Nigeria (CBN), Sparkle offers flexible payments, savings and analytics to users to provide greater freedom, flexibility and control over finances and lifestyle once and for all. The platform gives users visibility over spending patterns, with a detailed breakdown of payments by category. It also allows users the ability to split payments and bills, make utilities and bill payments, as well as send and receive money to other users and with other local banks.
Recently, Sparkle partnered with Network International to launch its new virtual and plastic debit cards targeted at SMEs and upwardly mobile, unbanked consumers across Nigeria. The cards will enable Sparkle customers to make in-app purchases as well as pay for e-commerce and m-commerce transactions.
Apart from Network International, Sparkle also works with Visa to provide Visa cards to its users across Nigeria. The deal with Visa gives Sparkle customers the ability to make in-app payments with the embedded Visa virtual card as well as make eCom / mCom payments with their Visa virtual card and with Visa-branded companion plastic cards attached to their profile.
Since its launch in 2020, Sparkle has grown a community built on trust and transparency, helping thousands to experience a new, easy, stress-free approach to organising their finances. In Nigeria, SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment, however they often face challenges with making strategic decisions due to lack of data for key insights into important issues that affect their business. Sparkle Business will bring all essential business transactions onto one safe and simple to use the platform to support Nigeria’s millions of SMEs as they scale.
Sparkle Business is live now and can be accessed by current users who have registered businesses in Nigeria. To register, individuals will need to have a personal Sparkle account, Tax Identification Number [TIN], and an email address connected to their TIN.
Uzoma, having worked in retail banking for over 20 years, has unrivalled experience when it comes to building banking products for businesses. He adds, “Sparkle was built to allow individuals to be free; Sparkle Business is an extension of this, so that business owners can reduce friction when it comes to important administrative transactions. We’re excited to roll out our new products and services, and to continue to grow an increasingly busy and entrepreneurial group of business owners who don’t want to accept that banking halls and physical paper trails are the only means of conducting business in Nigeria”.