Local payments gateway, Paynow, experiences 30% monthly growth

   

Paynow, the local digital payments platform that managed to integrate mobile money and card payments has seen gradual growth monthly on both transactions volumes and values. A 30% month-on-month growth has been realised in the current months.

Using first-time buyer to overall monthly transactions key metric as a gauge, Paynow has seen a consistent 60-80% proportion, indicating that there are several thousands of consumers who have not transacted on the platform previously who are making purchases now. According to Vusi Ndebele, the team lead at Paynow, this growth is mainly attributed to the increase in the services that merchants are offering.

There indeed has been a generally more intense adoption of online channels by businesses lately either because they see an opportunity to consolidated revenues by increasing sales, or they see the disruptive tendencies of online platforms and would like to ring fence their customers.

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In turn, Paynow’s online prepaid voucher portal startup, Topup, has reached a 3,000 transactions-per-month mark after its launch a few months back.

As a strategy, Paynow is also planning to interface more with customer-facing businesses in Insurance, Transport, Media and Entertainment with a view to exposing the public to the convenience of online payments.

Paynow also intends, within the coming few months, to introduce additional payment channels to complement the current Visa, Mastercard, EcoCash, Telecash and Zimswitch.

image credit : Webdev


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