South African start-up Krowdbox has launched a platform to simplify how small and medium-sized companies access digital payments and expand their enterprises online.
Launched in November 2020, Krowdbox enables local SMEs, even if their company is offline, to introduce, accept, manage, and easily track online payments from customers.
The objective is to simplify how small and medium-sized businesses access online payments and quickly, in a cost-effective way, incorporate this choice into their business.
“We basically want to democratize online payments,” said Krowdbox’s founder and chief executive officer (CEO), Adebiyi Fajemisin.
As we transition into a more technology-led economy, the idea is to enable local SMEs, including township SMEs, to grow and create their businesses online. Our platform is simple to use, stable and needs no integration or creativity to get started, making it easy for SMEs.
Fajemisin states, however, that for startups and smaller SMEs, many online payment gateways and mobile POS providers do not respond quickly enough to extend payment options or make the adoption process easy.
“In the first year of launch, our plan is to reach between 500 and 750 business customers,” Fajemisin said.