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SmartPesa | The Real Problem We Are Solving!
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The Real Problem We Are Solving!

The Real Problem We Are Solving!

If there is one bad use of resources never talked about, it is the wasteful money spent on enabling a digital payments by duplication, redundant and legacy hardware investment. Did you know this photo capturing 3 EDC terminals is +-$1,200 – one thousand two hundred US dollars – of investment in dumb terminals??

These devices have limited memory, terrible displays, limited capabilites and old-school dial-up capabilities. There is zero innovation. No flexibility. No data or reports or transaction history.

Most importantly, these devices do only payments, seriously! $400 per terminal for just sending a payment message? How about cash-out, data capture of transaction metadata, a portal for all transactions…?

Singapore is no different with this triple spend for each bank to offer their limited functionality terminal.

Lets then take note of the future of payments: merchants just want to be paid, they dont want 4 terminals, they want a single consolidated transaction history, they will have to prepare for QR payments (wallets and similar innovation), and they want less hassle. I mean, who wants to deal with hardware anyway?! Right.

This poor clerk performing a paper reconcilliation. Observe the pocket calculation! This is 2015, not 1995!