Kuda Bank Launches SofPoS, Lets Users Accept Card Payments From Their Phones, Ends Free Transfers

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Nigeria’s first digital bank, Kuda, has added a new feature to its Kuda Business app, which includes Sales Mode, Kuda Payroll, and business registration.

TechPoint reported that the Nigerian neo bank would launch a SoftPoS feature, enabling users to accept smartphone card payments.

Customers to use plastic or virtual cards SoftPoS permits customers to accept contactless cards and turn their smartphones or tablets into a secure payment terminal or Point of Sale (PoS).

The feature runs on Android version 8.0 or higher with an NFC module, while payments can be made using plastic or virtual cards.

The bank also stated that it is ending its free monthly interbank transfers for Business Account holders, effective March 17, 2023.

The bank said it would charge a flat rate of N10 per transfer to any bank, allowing customers to save about N15,000 yearly.