As As part of its long-term strategic growth plan, Nigerian retail POS solutions provider, ZirooPay, will leverage its recent funding round to tap into growing opportunities in the retail sector in Africa.
Armed with unique technology that enables small businesses to process card payments in real time, even when there is no internet/data connection, plus the backing of investors with an $11.4 million capital injection dollars recently,
ZirooPay, in a statement, said it was strategically positioned to explore the continent’s growing retail opportunities, especially as the African Continental Free Trade Agreement (AfCTA) with a combined market of 1, 2 billion people and a GDP of $2.5 trillion takes off.
Speaking recently, CEO of ZirooPay, Omoniyi Olawale, said innovative payment solutions such as ZirooPay will remain imperative and the wholesale and retail sectors will continue to dominate the contribution of the Africa to its GDP, even as population growth and rapid urbanization continue to drive consumption across the continent.
“ZirooPay set out to build an operating system for retail in Africa by providing solutions that not only drive financial inclusion, but also support the payment infrastructure necessary for retail to thrive on the continent. The lack of reliable payment technology for the continent remains one of the major challenges that has significantly hampered commerce and the ZirooPay Mobile POS solution will meet this challenge,” he said.
ZirooPay’s payment solution is fast, simple and reliable, delivering a 95% transaction success rate for POS transactions compared to the industry average of 25-50%.
The solution leverages its unique, patented Internet-free technology to enable SMBs (in the retail, banking, hospitality and service industries) to process in-person payments, track their sales and to manage their activities from their mobile devices.
Beyond payments, ZirooPay also provides merchants with automated sales history, sales analytics, and inventory tracking to help them monitor and manage their business more effectively.
ZirooPay’s superior transaction success rate and integrated nature of its service sets it apart from the competition.
According to Omoniyi, while it is still early days for payments in Africa, ZirooPay understands the peculiarities of the continent’s infrastructure challenges and would continue to deliver similar innovative solutions that will help address the payment challenge on the continent in a sustainable manner.
He said the company will unveil several initiatives in the coming days aimed at empowering more SMBs to take effective control of their businesses.