Local fintech start-up Zakhaa is set to revolutionize the financial landscape for small, medium, and micro enterprises (SMMEs) with the launch of its new buy-now-pay-later solution, Zakhaa FlexiPay. Launching tomorrow, this innovative payment system is designed to provide flexible payment arrangements, ensuring steady cash flow and reducing the risk of non-payment for SMMEs.
Initially used by a select few merchants, Zakhaa FlexiPay will enter a full beta program on Friday, rolling out to 100 merchants across South Africa. The mass launch is scheduled for the fourth quarter, with ambitious plans for expansion into other African markets. This strategic rollout aims to empower SMMEs with the financial flexibility needed to thrive in today’s competitive market.
Zakhaa CEO and founder, Teboho Twala, shared a practical example to illustrate the benefits: “Imagine your car breaks down and you need a mechanic who charges R2,000, but you only have R500. Zakhaa FlexiPay allows you to pay the R500 now and spread the remaining balance over three months. Our mobile card payment machine captures this arrangement seamlessly.”
The system provides both parties with regular statements, ensuring transparent payment tracking. Additionally, the Zakhaa app incorporates stringent security measures, including verification processes linked to the Department of Home Affairs and banks, to safeguard user information and ensure secure transactions.
Twala emphasized the broader impact, stating, “Zakhaa FlexiPay is not just about solving cash flow challenges; it’s about helping small businesses build credible trading track records, grow their operations, and create employment opportunities. Our solution is designed to support sustainable business growth.”
Gabriel Tumisang from Azania Lifestyle, an early adopter of Zakhaa’s payment system, praised the innovation: “Zakhaa FlexiPay is a game-changer for small businesses. It allows me to offer flexible payment plans and still process normal card payments. The device also offers value-added services like selling electricity, airtime, and Lotto, providing an opportunity for extra income.”
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