Kuda, a fintech startup, has seen consistent growth as they launched a Business app for their customers with enhanced features for maximum usage. Sales Mode, Kuda Payroll, and business registration are among the new features added to the microfinance bank’s Business app.
The “SoftPOS” feature is an intriguing addition to the Kuda Business app. SoftPOS accepts EMV contactless cards and transforms any smartphone or tablet into a secure payment terminal. It enables users to accept credit card payments from their mobile phones. Payments can be made using plastic or virtual cards on Android phones running version 8.0 or higher with an NFC module.
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In addition, beginning March 17, 2023, Kuda will discontinue free monthly interbank transfers for Kuda Business accounts. Since its inception in 2019, the 25 free monthly transfers have assisted customers in saving up to N15,000 per year. After three years, the company announced that the 25 free monthly transfers would be discontinued, as Business accounts will now pay a flat rate of N10 for each transfer. Personal account holders, on the other hand, will continue to benefit from free monthly transfers.