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Businesses asked to embrace digital economy

Following the rise of numbers of people infected with the coronavirus, a local tech firm urges businesses to embrace the digital economy. The move will help prevent further spread of the deadly virus.

A digital economy discourages physical contact and social gatherings. Consequently, people will practice social distancing and not be exposed to the virus.

Kibo Capital Group Ltd. is a strategy and innovation tech firm that is pushing for the digital economy to come into force. Even though the coronavirus pandemic is threatening people’s existence, people at the firm say that it is an excellent opportunity to rethink business models.

Their primary focus is on making payments and issuing receipts. Mr. Oketch is the director of Kibo Capital Group Ltd. His firm specializes in  PaymentGate digital receipts. Mr Oketch says that digital receipts are secure and clients can access them easily through a link. The link is sent to the client’s phone after paying for purchases.

Digital receipts

Mr. Oketch believes that digital/ e-receipts are essential at this time, especially for businesses like supermarkets. Despite the clients not wanting to come into contact with anything that may expose them, they still need to keep track of their purchases. This is where the e-receipts come in.

“With PaymentGate, when one pays for a service or good, the client receives a message with a link that gives an instant branded tamper-proof e-receipt showing the name, quantity of goods or service purchased,” Mr Oketch said.

E-receipts are, in fact, very environment friendly. Additionally, the innovation will help fight the spread of coronavirus since it discourages physical contact. The death tolls continue to rise every day, although no death has occurred in Kenya due to the virus.

Most business people and customers have expressed interest in the e-receipts. However, some raised their concerns on the possibility of the systems being hacked.

In response, Mr Oketch assured them that they already put measures in place to ensure that their systems can not be hacked.

Win-win situation

Currently, the innovation targets both small and large businesses. It is a win-win situation because the files are stored online. This way, if a client raises an issue, the records are accessed easily, and the business person activates automatic reconciliation.

Other innovations

Other than PaymentGate, the firm launched Tsenda. Tsenda is an online platform for buying airtime and electricity tokens. It also reduces physical contact and promotes social distancing.



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