Kippa, a fast-growing fintech start-up in Africa that provides digital business and financial management solutions for SMEs,announced the launch of its second product, ‘Kippa Payments,’ a digital payments system that allows users to automatically make and receive payments from clients.
Kippa Payments, which will be accessible through the existing Kippa app, is the company’s second product since it was founded in June 2021, less than a year ago. For a small fee, customers will be able to send transfers and payments for bills, as well as products and invoices to customers, with embedded payment links.
Users’ business data, which was previously self-recorded by merchants on the app, may now be automatically detected, recorded, synchronized, and so validated by this latest digital product.
With this latest product launch, Kippa has committed to maintaining its concept of simplicity, ensuring that Kippa Payments is simple to use, imitating the popular WhatsApp app that its users use on a daily basis.
Kippa’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.
Kippa’s first product is a simple-to-use, mobile bookkeeping solution used by over 350,000 SMEs in Nigeria (as of 1 April, 2022) which helps merchants to run their business processes, manage inventory, invoicing and debt management on the Kippa app. Kippa also provides a simple business registration service ‘Kippa Start’, which allows informal business owners in Nigeria to register their business within 72 hours at low cost, including 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 CTO, said: “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.”
Kennedy Ekezie-Joseph, co-Founder and CEO of Kippa, added: “The launch of Kippa Payments is a significant step in the expansion of our products for Kippa’s fast-growing SME customer base. 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. Ultimately, we want to leverage our proprietary fintech solutions to help small business owners flourish, driving socio-economic prosperity across the continent.”
The Kippa app is available on Google Play and the iOS app store , and existing users will be instantly updated with the Kippa Payments solution.