The Benefits of Digital Payments for Small Businesses
Title: The Benefits of Digital Payments for Small Businesses. How Social Media Rewrote the Africa News Cycle Common Digital Scams and How to Avoid Them How Mobile Phones Are Driving Economic Inclusion in Africa Since ages, small business in Africa has been operated by cash. The notes and coins were gathered by the market traders. Wooden boxes were used to make change by shopkeepers. Transaction was easy, instantaneous and terminal. Cash worked. It did not need infrastructure, no fees and no technology. But cash also had limits. It could be stolen. It could not travel easily. It left no record. Cash was a floor and ceiling to the small business that is attempting to grow. That is being transformed by digital payments. Small businesses all over the continent are finding out that allowing payment via phone, card, or transfer does not provide just the solution to quickening transactions. It changes the nature of the way they are working, their access to capital and their future plans. The ...
