South African mobile transaction solution Ching Payments will enable South Africans to do cardless payment transactions via their mobile number, with a launch expected by the end of June 2013.
Simplifying the purchase process for both the merchant and customer, secure and instant payments through a mobile number will provide “a better sales option”, Martin Ras, founder at Ching Payments, told HumanIPO.
Initially, registration will be possible on web and mobi interface, with iOS or Android accessibility following short after.
Only the basic essential credentials of the user will be required, such as email address, mobile number and credit card details.
The service will provide a solution especially useful to smaller businesses such as plumbers, guest houses and other direct sale operations.
Furthermore, Ching Payments will also assist with optimal merchant service commission rates by charging only three to four percent per transaction as based on a super merchant model.
The system will allow paying customers to also upgrade to merchants, as well as calculate value added tax (VAT), upload pictures and prices of products and receive sale reports.
“Essentially what we are trying to do, is we are trying to tap the e-commerce experience into the m-commerce environment,” he said.
Ching Payments also collaborates with South African banks to connect with their payment systems.
According to Ras, the financial sector poses many challenges for a startup to enter.
“It was a rather an interesting challenge and is a challenge still,” he said.
Starting soon in South Africa, this Cape Town-based startup is exploring possibilities to roll out across the African continent in the future.
