Kuda Launches SoftPOS for Smartphone
Nigeria’s foremost digital bank, Kuda has announced launch of its SoftPoS, which enables users to accept smartphone card payments, TechPoint reports.
The Software Point of Sale, SoftPoS allows you to accept EMV contactless cards and turns your normal smartphone or tablet into a secure payment terminal.
The SoftPoS works on any Android phone of version 8.0 or higher with an NFC module.
So with Kuda SoftPOS, you can say goodbye to POS machines
The Fintech company said payments can be made using a plastic cards or virtual cards.
You only need the card number and PIN to make payments.
The neo bank added other new features to its Kuda Business app, such as Sales Mode, Kuda Payroll, and business registration.
On the other hand, the digital bank is stopping its free monthly interbank transfers for Kuda Business accounts with effect from March 17, 2023
In 2019, Kuda introduced 25 free monthly transfers, each of which cost an additional ₦52.50 (11 cents), saving customers up to ₦15,000 ($32.60) yearly.
Also in 2022, the Nigerian fintech startup announced it would start charging a ₦50 (11 cents) stamp duty charge on all deposits above ₦10,000 ($21.73).
Kuda business accounts holders will now be charged a flat rate of ₦10 ($0.022) for each transfer, while personal accounts will continue to enjoy the free monthly transfers.
How To Turn On Sales Mode
Sales Mode is a softPOS feature on the Kuda Business mobile app.
softPOS turns your internet-connected smartphone into a POS terminal, and Sales Mode on softPOS allows you to turn multiple smartphones into a POS terminal.
Sales Mode will help you save money and make it easy to monitor payments to your business account any time.
How to Set Up Sales Mode for a New User
- Download the Kuda Business mobile app on the new user's smartphone, open the app, then tap Sign in here to use Kuda Business in Sales Mode.
- Type in the access code, then tap Sign In.
- Tap Start to turn on Sales Mode.
How to Receive a Card Payment
- Sign in to your Kuda Business mobile app, then tap Sell.
- Type in the amount you want to receive from your customer.
- Tap Charge.
- Tap Pay with Card.
- Choose the type of account linked to your customer's card, then tap Proceed.
- Ask your customer to tap their card against your phone.
- Ask your customer to type in their card PIN.
- Tap Send Receipt or Skip.
How to Receive Payment through Pay with Kuda
- Sign in to your Kuda Business mobile app, then tap Sell.
- Type in the amount you want to receive from your customer.
- Tap Charge.
- Tap Pay with Kuda.
- Scan the QR code on your customer's phone or ask them to type in their Pay ID. Note: Don't ask your customer to share their Pay ID with you.
- Tap Send Receipt or Skip.
How to Receive USSD or QR Code Payment
- Sign in to your Kuda Business mobile app, then tap Sell.
- Type in the amount you want to receive from your customer.
- Tap Charge.
- Tap Pay with USSD.
- Choose the bank your customer wants to pay with.
- Ask your customer to dial the USSD code or scan the QR code with their phone.
- Tap Send Receipt or Skip.