Bank Gaborone is thrilled to announce the launch of Easy-2-Pay, an affordable ‘soft mobile Point of Sale (mPOS)’ payment solution specifically designed to meet the unique needs of Micro, Small, and Medium Enterprises (SMMEs) in Botswana. With Easy-2-Pay, entrepreneurs, business owners, hustlers, and go-getters, can transform their smartphones into portable payment terminals, enabling them to conveniently accept VISA bank card payments wherever and whenever.
According to the World Bank’s report in 2021, Botswana had close to 26,256 SMME businesses registered. Moreover, the high mobile phone penetration and usage in Botswana, as indicated by Botswana FinScope 2020 and UNCDF MAP 2021 reports, demonstrates the country’s preparedness for mobile-based transactions. These statistics, combined with the current market conditions, suggests a favorable environment for innovative solutions. Bank Gaborone recognised the untapped potential of this market and developed Easy-2-Pay, offering SMMEs an affordable and digitised solution for accepting payments.
Customers of SMMEs can say goodbye to the inconvenience of cash-only transactions and embrace the future of seamless card payments. The Easy-2-Pay platform is compatible to run on a wide selection of Android smart devices, by leveraging the power of Near Field Communication (NFC) technology, which allows for contactless payments using a VISA debit chip card. The solution is app-based meaning, upon having applied for the product, our customers can then download the app from Google store.
Although data will be required to use the app we are working on zero rating so that our customers can use it at no cost. With Easy-2-Pay, the experience of customers will be transformed, and local businesses can be supported effortlessly.
Upon launching the product, Minister of Communications, Knowledge, and Technology, Honorable Thulagano Segokgo, emphasised the significance of this solution amplifying the numerous challenges the numerous challenges that encounter within the country. “SMME’s stand as the backbone of our economy, yet they face a myriad of challenges, from cash management to accessing relevant and affordable financial solutions. Bank Gaborone understands this reality and it is indeed a thrill to see them introducing this exceptional and affordable payment solution. By providing an affordable, secure, simple, and convenient solution, businesses will be empowered to thrive and contribute to the country’s economic progress.”
He further indicated that, “With just a VISA card tap on the phone, Easy-2-Pay enables effortless and secure payments for goods and services. Easy-2-Pay allows the user to conduct various transactions such as viewing transaction history, refunding and transaction reversal. Bank Gaborone believes that fostering the growth of Micro Small Medium Enterprises, is crucial for the overall development of Botswana’s economy. By providing innovative payment solutions like Easy-2-Pay, Bank Gaborone is not only supporting their financial success, but also driving entrepreneurship and job creation. The Bank is dedicated to fueling economic growth and being the catalyst for positive change in the Micro Small Medium Enterprises landscape.”
Speaking at the event, the newly appointed Managing Director Olebile Makhupe reassured clients that her vision for Bank Gaborone is inspired by the need to offer a seamless banking experience that is relevant to the times, cost effective, convenient, and innovative. “Our strategy is centered on growth, transcending boundaries, and creating an enduring legacy. Over the next few months, the Bank will launch a suite of products and services that will give customers more access to financial solutions.”, she further expounded.
Easy-2-Pay represents a significant leap forward in empowering SMMEs with efficient and accessible payment solutions. By embracing the convenience and versatility of mobile technology, SMMEs can empower their ambitions by enhancing their business operations to meet the evolving needs of their customers. For a merchant to have access to Easy-2-Pay, they can apply for Easy-2-Pay at any one of the Bank’s 12 branches around the country.