ClickPesa has developed an omni-channel payment platform to facilitate all types of transactions for the African Market. The platform offers a single point of payment, merchants are able to receive all types of payments, through a single point and straight into their designated business account. The platform does not act as a wallet but connects with m-wallets, banks and Mobile Network Operators (i.e. M-pesa), to simply facilitate transactions.
- Online Checkout
- E-invoice Payments
- M-pos – Merchant Application
- Merchant Dashboard
ClickPesa enables universal payment acceptance for merchants in Africa to accept all forms of payments across a wide range of payment channels (mobile, online etc). The main purpose of the payment acceptance service is to make it easier for customers to pay for goods or services using existing mobile money wallets or bank apps. With ClickPesa, merchants no longer have to open multiple accounts to accept payments from different e-payment channels.
Payment systems are subject to a range of laws, regulations and guidelines established by regulatory bodies in each Individual country. Regulations create barriers and bureaucracy for tech companies to operate in the payment space. These barriers limit innovation in fintech. A open approach to regulate new technology should be applied at all times. Central banks have over the years normally taken a follow a leader approach which hasn’t over time necessary worked in pequliar markets. Regulators should look internally and weigh the advantages and disadvantages of new technologies on an economy.
The recent stance of several central banks against blockchain technology has slowed down innovation in those particular markets. As a result those markets have fallen behind in innovation as compared to the markets which where pro blockchain technology. This has resulted in some regulators changing their position on the technology after seeing the potential advantages of the technology. Regulators play a vital role in the payments industry and can help foster innovation by creating the required demand side pull and supply side push to enable the adoption of new payments systems.
How regulators should help?
Regulators and policy makers should realise that payment systems and new technologies enable economic growth. Regulators need to balance innovation against risk management to create an empowering regulatory environment. The Bank of Tanzania (BOT) is prime example of a regulator exercising adaptability in the face of innovation. The BOT adopted a test and learn approach on the launch of mobile money money services in Tanzania.