DPO Group has launched real-time settlements for its SME sole proprietor merchants in Kenya. Real-time Settlements will allow Small and Medium Enterprises (SMEs) to receive customer payments instantly.
The businesses will not have to wait up to one week for funds to be settled, reducing the need for short-term financing, improving cash flow and boosting business efficiency.
Merchants who use the DPO payment card will be able to take advantage of reduced settlement times to free up the essential funds their businesses need to grow. Payments can be settled by merchants instantly onto their physical DPO Prepaid Card, powered by Mastercard, in local currencies and USD.
Launched in June 2019, the DPO Card, Africa’s first business to business (B2B) prepaid payment card, is now available to DPO merchants across the continent. The DPO Card allows African businesses to transact securely throughout the continent and internationally, drastically increasing the financial inclusion of African companies in the global economy.
The real-time service is instant, flexible and secure, hence enabling merchants to settle payments. It has developed highly sophisticated, end-to-end fraud prevention and risk management systems in all 19 markets in which it operates.
“It is more important than ever that we help our SME merchants navigate the economic uncertainty posed by the pandemic. We understand that instant settlements are a key priority for our merchants, and we have taken on this feedback to develop a solution that will dramatically transform the way they can operate, cutting down settlement times from up to one week to within fifteen minutes. This will allow them to worry less about immediate cash-flow, knowing that they’ll receive payment for goods and services sold to customers immediately and allow them to focus more on business growth,” said Eran Feinstein, CEO of DPO Group.