Offering solutions. Phones have become semi banks and movement of money
is easier and efficient than before. EasyPay uses phones to provide
payment solutions to small and medium enterprises. FILE PHOTOS
The
world is now a global village. Boundaries have been shuttered by
technology broadcasting
happenings of social events in real time.
Phones have become semi banks and movement of money is easier and efficient than before. Actually, for many it is conducted in sitting and bedrooms.
However, there is still a challenge of linking small and medium enterprises (SMEs) to electronic commerce.
“Online retail is estimated by the centre for retail research to account for 13 per cent of consumer spending in the US and around 10 per cent in Europe … best estimates put the current share of African enterprises in e-commerce, for instance at below 2 per cent, a share that could be higher,” a 2016 study by the International Trade Center dubbed; “Bringing SMEs onto the e-commerce highway reads.
A keen eye will notice that focus from technology developers and donor aid has rained mostly on agriculture and those in the value chain.
But most businesses in general merchandise, clothing and apparel, still lag behind.
Starting his business in 2016, Fred Ferguson, founder of EasyPay, had been through the hassle and tussle to integrate his application to telecoms in Kampala. He did not want the same fate to befall others.
“When people visit the telecoms to integrate into their networks, it can take [more than three] months. You see people giving up. I felt their pain, many projects and different people failing. We decided why not do it at once, connect to the telecoms, take all the things they throw at us, but when we get ours, we make it accessible to people. Right now, our Application Programme Interface (API) is available to people, then connect and start transacting, receiving money,” he explains.
It is for that reason that EasyPay was born in 2016.
EasyPay is a digital wallet that includes money transfers, a messaging tool and bill payments, among others.
But what stands out is the Application Programme Interface and third party features that allow businesses within the space of minutes create a mobile money business account with which they can receive money from customers.
happenings of social events in real time.
Phones have become semi banks and movement of money is easier and efficient than before. Actually, for many it is conducted in sitting and bedrooms.
However, there is still a challenge of linking small and medium enterprises (SMEs) to electronic commerce.
“Online retail is estimated by the centre for retail research to account for 13 per cent of consumer spending in the US and around 10 per cent in Europe … best estimates put the current share of African enterprises in e-commerce, for instance at below 2 per cent, a share that could be higher,” a 2016 study by the International Trade Center dubbed; “Bringing SMEs onto the e-commerce highway reads.
A keen eye will notice that focus from technology developers and donor aid has rained mostly on agriculture and those in the value chain.
But most businesses in general merchandise, clothing and apparel, still lag behind.
Starting his business in 2016, Fred Ferguson, founder of EasyPay, had been through the hassle and tussle to integrate his application to telecoms in Kampala. He did not want the same fate to befall others.
“When people visit the telecoms to integrate into their networks, it can take [more than three] months. You see people giving up. I felt their pain, many projects and different people failing. We decided why not do it at once, connect to the telecoms, take all the things they throw at us, but when we get ours, we make it accessible to people. Right now, our Application Programme Interface (API) is available to people, then connect and start transacting, receiving money,” he explains.
It is for that reason that EasyPay was born in 2016.
EasyPay is a digital wallet that includes money transfers, a messaging tool and bill payments, among others.
But what stands out is the Application Programme Interface and third party features that allow businesses within the space of minutes create a mobile money business account with which they can receive money from customers.
How it works
A plugin will grant your SME an account with EasyPay through one of its telecom partners.
What this means is at the point of paying for an online purchase, the customer will be prompted directly through mobile money and the money moved to the SME account held with EasyPay.
The customer can then proceed to withdraw the money or use it via the EasyPay wallet.
This is mainly critical for businesses that offer deliveries.
In this age where convenience trumps cost, people are adopting to e-commerce rapidly.
E-commerce, according to surveys, has the ability to grow an SME to a micro-multinational, indulging in cross-border trade.
It also trims costs incurred by businesses through eliminating the need for the costly brick and mortar set up.
A plugin will grant your SME an account with EasyPay through one of its telecom partners.
What this means is at the point of paying for an online purchase, the customer will be prompted directly through mobile money and the money moved to the SME account held with EasyPay.
The customer can then proceed to withdraw the money or use it via the EasyPay wallet.
This is mainly critical for businesses that offer deliveries.
In this age where convenience trumps cost, people are adopting to e-commerce rapidly.
E-commerce, according to surveys, has the ability to grow an SME to a micro-multinational, indulging in cross-border trade.
It also trims costs incurred by businesses through eliminating the need for the costly brick and mortar set up.
The cost factor on EasyPay
Even
while convenience is key for today’s world, there is still a global
outcry over the cost of digital transactions, which is often too high.
Taxes on the service exacerbate the situation.
Telecoms have today subsidised the sending costs but maintain high withdraw charges that are also tethered to taxes.
Easypay on the other hand does not subscribe to the notion of charging subscribers fees for money transfers made through the platform.
“When you are sending money or withdrawing via Easypay to another EasyPay subscriber, it is at zero cost. I do not understand the concept of charging people at every point in money transfer, they are putting money into our system,” he ponders.
The application earns off commission on transactions made on the platform. However, in some cases where the partner will not offer commission, charges are passed onto customers.
“We charge for electricity, Pay TV, they do not give commission so we charge a small fee. The ones where we are given commission, there are no charges,” he adds.
Determined to amplify the convenience even further, EasyPay also allows for money transfers through its messaging feature, with the semblance of WhatsApp.
Easy pay employs 2,000 agents and has over 20,000 subscribers.
Taxes on the service exacerbate the situation.
Telecoms have today subsidised the sending costs but maintain high withdraw charges that are also tethered to taxes.
Easypay on the other hand does not subscribe to the notion of charging subscribers fees for money transfers made through the platform.
“When you are sending money or withdrawing via Easypay to another EasyPay subscriber, it is at zero cost. I do not understand the concept of charging people at every point in money transfer, they are putting money into our system,” he ponders.
The application earns off commission on transactions made on the platform. However, in some cases where the partner will not offer commission, charges are passed onto customers.
“We charge for electricity, Pay TV, they do not give commission so we charge a small fee. The ones where we are given commission, there are no charges,” he adds.
Determined to amplify the convenience even further, EasyPay also allows for money transfers through its messaging feature, with the semblance of WhatsApp.
Easy pay employs 2,000 agents and has over 20,000 subscribers.
Challenges
According
to Fred Ferguson instability of network by partners such as national
water and sewerage services, Umeme or pay television keep Mr Ferguson as
a digital wallet developer awake at night.
Being the front end operator, Easypay is blamed for incompetence and loses trust from customers every time network fails.
“Sometimes when their systems go down, our end user blames Easypay. When for instance a Yaka token fails to come, we are blamed,” he decries.
Being the front end operator, Easypay is blamed for incompetence and loses trust from customers every time network fails.
“Sometimes when their systems go down, our end user blames Easypay. When for instance a Yaka token fails to come, we are blamed,” he decries.
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