• TymeBank has announced that it will migrate its Tap-On-Phone customer base over to the iKhokha platform.
• The move will also open up access to iKhokha’s all-in-one suite of business tools.
• The announcement comes a few weeks after TymeBank’s first month of profitability in December 2023.

If you are a local merchant, retailer, or business making use of TymeBank, it may be worth noting that the digital financial institution is making a change when it comes to its Tap-On-Phone payment platform of choice, with iKhokha now being leveraged.

TymeBank has announced that it is migrating existing Tap-On-Phone customers over to iKhokha, with the move also opening up access to a range of other business-focused solutions and services on offer from iKhokha.

These business tools include cash advance products, sales reports, business insights, and a range of online payment acceptance solutions.

The iKhokha Tap-on-Phone service makes use of business owners’ smartphones in order to facilitate transactions, with no transactional limits being a key part of the offering. iKhokha also says that a variety of card machines are also available to those interested in upgrading.

“We believe providing access to innovative solutions for South African businesses to truly fulfil their potential is a key contributor to the broader economy. To that end, iKhokha’s credentials speak for themselves. Having recently won the Best Financial App of the Year Award at the 2023 MTN Business App of the Year and being rated the segment leader by South African SMEs on HelloPeter, iKhokha is perfectly positioned to empower TymeBank business customers to thrive,” noted Greg Illgner, chief strategy officer at TymeBank.

“Our small business sector is massively resilient despite a tough trading environment, and we will continue to help entrepreneurs and SME’s to believe in better business by investing in our SME focused financial services platform to expose more local SME’s to the digital economy,” added iKhokha CEO Matt Putman, in a release sent to Hypertext.

Highlighting anecdotal feedback from some merchants who have already made the switch, iKhokha explains that many are, “reporting their satisfaction with the additional payment acceptance options, including a payment gateway for e-Commerce, QR Code and Paylink functionality, an invoice tool, a business management dashboard with daily sales analysis.”