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HelloPay Launches Business Solution Package to Support SMEs
Image sourced from Xpatloop. HelloPay has launched a new turn-key suite of business solutions that will enable growth, save costs, and give users peace of mind that financial access is available to them when they need it. The informal sector accounts for about 18 percent of South Africa’s GDP, with over three million workers engaged in the informal economy. In addition, an estimated 2.9 million migrants reside in South Africa, many of whom struggle to access financial services in order to start small businesses like spaza shops, salons, and kiosks. That’s an incredible portion of the population that remains underserved in the financial sector, unable to access or otherwise afford the services needed to grow their businesses. Serving the underserved HelloPay’s SoftPOS offering, which w...
How COVID-19 is Shaping Financial Inclusion
The COVID-19 pandemic had forced companies and individuals to rapidly adapt to the Fourth Industrial Revolution (4IR) to remedy the unprecedented socioeconomic challenges faced by consumers. A key facet of 4IR is a shift towards digitisation, and the vulnerable communities across the globe find themselves trailing even further behind in their endeavour for financial equity as a result. Migrants and foreign nationals trapped in the cash economy, who utilise analog means of transacting funds, are the hardest hit as lack of access to cash means that they are rendered unable to support their families both locally and abroad to make ends meet. The festive season in particular is a capital intensive time for consumers. To provide for their families, many find themselves using informal meth...
