Bank Zero has announced a partnership with another fintech player, iKhokha, to provide business customers with a card machine solution with zero monthly rental fees that integrates with the bank’s zero-fee accounts.
“Business banking has remained stuck in a quagmire of high fees, poor service delivery and no real choice,” says Bank Zero chairman Michael Jordaan.
“However, the landscape is changing rapidly thanks to innovative partnerships. Bank Zero has attracted a significant number of new customers in this market segment, with many businesses requesting card machines.”
Bank Zero customers do not require any additional credit checks and do not have to “Fica” again to secure an iKhokha terminal.
They can request an iKhokha card machine via the Bank Zero app (coming soon) or website. The devices are purchased outright, which means there are no monthly rental fees, and iKhokha will deliver the card machine at no cost. iKhokha’s wireless card machines operate independently and don’t have to connect to a smartphone to accept card payments.
“We aim to make doing business easier for businesses by simplifying money movements and broadening access to financial services for all South African entrepreneurs,” said iKhokha CEO Matt Putman in a statement.
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According to Jordaan, there’s no stopping the advance. “We listened to Bank Zero customers. They need card devices — businesses can be carried out anywhere now, by anyone and anywhere. Even people under 18 have sol props (sole proprietorships) or even more complex businesses. People work from home, from anywhere, so we have to meet that need.” — © 2023 NewsCentral Media
