If you’re running a small business and have problems receiving payments, things are about to look up for you. The folks over at Nedbank announced a new collaboration with Mastercard and Ukheshe, that sees the launch of Money Message, a new payment platform that lets small and microbusinesses receive in-chat payments from their customers via WhatsApp.
According to Nedbank’s statement, the solution will enable business owners to send an invoice requesting a payment from any customer seamlessly through WhatsApp. The customers in turn can quickly settle a payment directly from the platform.
‘The need for a diverse range of contactless payment methods is more important today than we could have possibly imagined, as we seek to rebuild the economy by giving businesses the ability to transact in a safe and secure way,’ says Chipo Mushwana, Executive: Emerging Payments at Nedbank.
Anyone with a valid South African identity document and South African bank account can make use of Money Message. Business owners, or Merchants as the bank likes to call them, will need to first register for the service, which is completed within a matter of minutes, and afterwards, they can immediately initiate a payment request.
In the same breath, Nedbank admits that while other institutions have released banking functionality that works through WhatsApp, Money Message is unique in that it has been specifically developed to process payments for merchants and small businesses. Rather than a banking plug-in.
A beta version of Money Message has been available to a small selection of micro merchants for just over a month and will gradually reach the broader market during the rest of the year. However, business owners can register through the appropriate channels.