With the outbreak of the Coronavirus (Covid-19), the government has been encouraging a number of measures to mitigate the spread, including social distancing and cashless transactions.
Businesses are not left out as they are also feeling the pinch. The business owners who are at an advantage are those with cashless solutions. Co-op Bank therefore comes in handy in offering a solution to business owners who would like to start doing E-commerce.
Some of the solutions offered by the bank include Lipa na M-Pesa, where the bank assists you to get a till number and payments will be deposited directly into your Co-op bank account
The bank also offers point of sale (POS) or PDQ terminals, which enables customers use their cards to make payments, and money is deposited directly into the merchant’s account.
MCo-op Cash- Co-op bank customers can also transfer money directly their Co-op account into the merchants account using the USSD *667# or via the MCo-op Cash app
Customers can also send money directly into the merchant’s Co-op bank account using the M-Pesa pay bill 400200.
Advantages to the business owner using the E-commerce solution from Co-op Bank
- Convenience to their customers consequently Increase in sales –Customers can transact at any time from any location in the world.
- Outstanding real-time processing speed with average authorisation response times typically below 2 seconds
- Multiple card types, international VISA credit and debit cards, pre-paid cards
- Multiple currencies – Ksh, USD, GBP and Euro
- Unparalleled processing scalability and security
- Exceptional service reliability backed by 24/7 operations support
- Support for additional fraud prevention solutions
- Ease of integration
- Real-time reporting