Kazang (www.Kazang.com), the prepaid value-added services (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has introduced Kazang Pay, a card acceptance solution for merchants in Zambia. With Kazang Pay, merchants can now easily accept card payments on the same Kazang terminal they use for selling prepaid products and services.
The Kazang Pay enabled terminal in Zambia supports VISA debit and credit cards, as well as mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day, providing a seamless experience for customers. Merchants can simply allow customers to tap or insert their bank card and enter their PIN on the secure scramble PIN pad.
Kazang operates around 12,000 VAS terminals in Zambia, with plans to enable the majority to accept card payments within the next six months. Merchants can benefit from low transaction fees, no monthly terminal rental fee for meeting a modest monthly transaction threshold, and the potential to expand their businesses through card acceptance.
As Zambia’s largest VAS point-of-sale terminal provider, Kazang offers mobile money payments, bank and mobile money cash transactions, bill payments, airtime, Zesco, and various other prepaid services on a single platform. The addition of card acceptance further enhances the platform for both merchants and consumers.
The launch of Kazang Pay in Zambia follows its successful implementation in South Africa, where around 60,000 small and micro merchants use the service to accept card payments. In Zambia, there are approximately 3.8 million debit, credit, and ATM cards in circulation, with 41,000 point-of-sale (POS) terminals in operation. The value of POS transactions has grown significantly to K 111.4 billion by 2022 from less than K 20 billion in 2018, as reported by the Bank of Zambia.
Leon de Wit, managing director at Kazang Zambia, mentions, “Zambia has made significant progress in terms of financial inclusion, with card usage and penetration increasing rapidly. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending VAS products.
“Card transactions help merchants increase basket sizes, attract more customers, reduce risks and costs associated with handling cash. Transitioning to digital payments will enable merchants to track sales, manage cash flow, and establish a footprint that may facilitate easier access to loans.”
Ashley Naidoo, director of Kazang Pay in South Africa, adds, “Our Zambian merchants have enthusiastically embraced our card acquiring service as part of our comprehensive solution. Following the launch of Kazang Pay in Zambia, we have observed higher VAS sales across our merchant base, improved merchant retention, and expanded appeal to a broader merchant audience with our card acquiring solution.”
Distributed by APO Group on behalf of Kazang.
Sent on behalf of Kazang
For questions contact:
Jacqueline B Mayer
jacqueline@ideaengineers.co.za
ABOUT KAZANG:
Kazang (www.Kazang.com) is a leading provider of cash and digital solutions to merchants in Southern Africa’s informal economies. Their fintech solutions include various value-added services (VAS), card acquiring, secure cash vaults, and supplier payments platforms. With approximately 90,000 active devices in operation, Kazang processes around 2.2 million transactions daily in markets such as South Africa, Namibia, Botswana, and Zambia.
Their commitment is to assist small and medium merchants in growing their businesses by increasing sales, improving efficiency, and reducing risks through a holistic range of products and services. Kazang is part of Lesaka Technologies (https://LesakaTech.com).
ABOUT LESAKA TECHNOLOGIES, INC:
The Connect Group and Kazang were acquired by Lesaka Technologies, Inc. in April 2022. Lesaka Technologies, a South African Fintech company, leverages its proprietary banking and payment technologies to deliver superior financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. Their mission is to drive true financial inclusion by offering affordable financial services to underserved sectors of the economy.
Lesaka offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa.
Lesaka Technologies has a primary listing on NASDAQ (NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit www.LesakaTech.com for more information about Lesaka Technologies (Lesaka™). $LSK / $LSAK