Business

Benefits of running a cashless business in Kenya

Running a cashless business is growing to be a rather efficient way of running a business in Kenya.

Running a cashless business is growing to be a rather efficient way of running a business in Kenya. This is because it minimizes the chances of theft or loss of money, as well as making transactions much faster. For these reasons, more and more businesses are choosing to go cashless. While there are some who are still hesitant to make the switch, the benefits of running a cashless business are clear.

In this article we will be diving deeper into the benefits of having a cashless business.

Pros of going cashless in business.

1.Security

One of the major concerns that was faced by Kenyans in the past was theft and to be more precise robbery of cash registers , especially for small businesses. The introduction of mpesa has enhanced security for these businesses because they do not to keep large sums of money in their shops

2.Easy inventory tracking

Going cashless can enable you to track inventory with the use a PCOS system that enables you to know what your store has and what needs to be stocked once a digital purchase is made.

3. Better customer experience

Due to the fact that mpesa transactions take a short time it cuts down the amount of time taken to make payments and the hustle to look for change for 1000 kshs is no longer there. As a result increasing the speed of business operations which makes customers

4. Convenience

Imagine running an online shop and not being able to accept payment, it would be a huge inconvenience both for you and your customer. Going cashless will help the customer make payments and get their purchase delivered to them without your presence.

How to go cashless

There are a few things you need to do in order to get started as a cashless business.

First, you'll need to set up a merchant account so that you can process payments electronically. Brrng is integrated with Kopokopo helps that businesses in Kenya accept digital payments so as  to help you get one step closer to being a cashless business.

After which you'll need to promote your new cashless payment system to your customers and get them on board.

All in all, it is clear that running a cashless business is becoming increasingly popular in Kenya, and for good reason. It is a more secure, efficient, and customer-friendly way to do business.

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Nancy Njeri
September 9, 2022

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