WHY DIGITAL PAYMENTS?
Nothing is permanent in our world today. There are always innovative solutions to problems around us. And the major changes we’ve experienced in the past few years are in the finance sector.
Let’s be plain honest, digitization of payments is the best thing to ever happen to the financial space in Africa. There is ease, efficiency, and of course the speed of an instant payment transfer system from the comfort of your home, car, even at a meeting regardless of the time of day.
The year 2020 has been pretty much a handful. We experienced a global pandemic that caused a huge disruption in several sectors, particularly in how payments are sent and received.
Many businesses suffered a huge loss or suddenly closed down due to the restrictions to movement. However, some businesses were quickly able to adapt to using digital payments to perform all their business transactions.
This blog post will help you have a little understanding of what digital payments are and how you can use one of the best digital payments to perform your business and personal transactions.
What is a digital payment?
Digital payment is a transaction where the sender and receiver use electronic mediums to exchange money. This means money can be sent and received without any physical exchange of cash.
This does not mean digital payments can’t take place on physical premises. For example, if you buy something from Amazon and pay for it via POS, it qualifies as a digital payment.
Similarly, if you purchase something from your local store and choose to pay via mobile money instead of handing over cash, that also is a digital payment.
What are the different methods of digital payments?
- Banking Cards (Debit/Credit cards)
- Unstructured Supplementary Service Data(USSD)
- Mobile Wallets
- PoS Terminals
- Internet Banking & Mobile banking
- Remittances & Payments Platforms
One of the digital payments that are simplifying transactions for Africans at the moment is Waya. Wayamomey was developed as a payment system to help reduce the amount of money and time spent on each transaction, both locally and across African borders.
Here are some of the reasons why you should switch to Wayamomey to perform all your personal and business transactions.
PAYMENT IS EASY
The Waya payments procedure is not cumbersome and this is very intentional; if digital payments are meant to replace the long queues at the bank, why make this stressful? Has 2020 not been enough?
With the current Waya version (mobile or web app) you can:
* Transfer money locally within Ghana, Nigeria, and Kenya,
* Make cross-border payments from Nigeria and Kenya
* Request payment as Waya merchant from the MoMo/M-Pesa wallets of your customers,
* Issue refunds as a Waya merchant (available on the web application for Waya Merchants only)
PAYMENT IS SWIFT AND INSTANT
Waya saves you the stress of swiping cards and digging through your wallet, instead offering you instant payment and local money transfers in under 7 seconds.
All you need are your personal or bank account details and some mobile data or WiFi, and you’re good to go on your MoMo, M-Pesa, or Bankcard.
Fast and instant, isn’t it?
SECURITY
Your payment information is as private as your vote. Should your phone get missing or stolen, unless your PIN is shared, no one can run up big or small transactions using the Waya App, not even the thief.
Your information is secured behind our trusted partners (for card payments) and your PIN (for MoMo).
GLOBALLY ACCEPTED
Who makes online payments with cash? Well, you’ll barely find it. Mobile payment is gradually taking over a growing number of retailers’ payment options, and we’re here for this.
We are advocates of traveling light. Why carry cash and cards when you can have it all on your phone?
Download the Waya mobile app on Google Play store or visit our web-based app www.app.wayamoney.com
Waya is also available as a merchant API for business owners. So, when next you’re looking for the best digital payment platform to use for your transactions, choose Waya.
Originally published at http://wayamoney.wordpress.com on January 26, 2021.
