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Tech Firm Fights For Slice Of Local Payments Market

Kenyan Business Feed

Technology company Kibo Capital Group has rolled out an electronic e-receipting application for both monbile money payments and banking deposits via a paybill option.

The PaymentGate app can be used for online banking and universally verifiable.

It is tailor-made to fit into a client’s records management specification, thus saving stationery and cash, including in marketing and advertisement, the company says.

Kibo Capital Group Chief Executive Jasper Ochieng (pictured) said the app’s functionalities come with analytics data.

“From my experience, Kenyans have a habit of throwing away receipts after shopping at supermarkets and malls. Why cut trees only to throw them away? We need to keep ur environment in check”, he added.

“Another observation I made was that after a mobile money transaction or a bank ppayment that is linked to an SMS, a client might delete the text by mistak, which makes it hard for them to keep track of their payments records in case of any evenntualities”

Mr Ochieng said PaymentGate ensures records are kept in secure cloud servers.

Buy airtime for any network

Tsenda, another aplication by the same technology firm allows Kenyans to purchase airtime for any network.

Users are required to send a simple text message to a toll-free shortcode to purchase airtime for Safaricom, Airtel and Telkom lines, through MPESA.

The firm’s other innovation is Chapeo app, which offers loans to small and medium enterprises.

The receippts generated do not reveal the client’s mobile money balance or number, Ochieng said. He added that the app reduces human error in sales entries and provides a feedback monitoring mechanism.

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