Business owners are usually frustrated when customers have to wait for several minutes to get credit alerts for transactions initiated. At times they have to go through the rigour of visiting banks to resolve payment issues.
Also, there are those moments when business owners lose sales because a customer wants to pay with a POS that they don’t have or they don’t have a business account, and customers do not trust they are legitimate.
This is where fintech startup Collect Africa comes in.
Founded by Abraham Ojes and Wale Martins in 2021, Collect enables business owners to accept payments across all sales channels, including POS, direct debit, bank transfer, QR, payment links, and online channels like Barter and Opay.
The fintech platform also helps business owners meet the growing payment needs of their customers, ensuring zero delays in business transactions.
Collect also takes away the bottlenecks businesses go through when transacting with traditional banks. For example, its instant bank transfer feature enables payment confirmation within 10 seconds, against the regular minutes and sometimes hours spent waiting for a credit alert.
According to the founders, “We have all faced the inconvenience of not being able to pay even when you have money in your bank account or card. For example, you walk into a shop to buy some groceries and the shop owner only accepts cash. You can’t pay with bank transfer or POS. You have to return the items and the shop owner has lost that sale. We are determined to bring an end to this by giving merchants the ability to accept payments by bank transfer, cards, or even QR via our platform”.
In addition to its core feature of making a wide range of payment options available to businesses, one of the most exciting features endearing business owners to the platform is the ability to get a business account instantly. On sign-up, users get a unique business account tied to all the transactions performed on the platform.
While every user gets a business account instantly, Collect ensures only legitimate businesses transact by mandating them to complete compliance that requires their business registration document.
Beyond enjoying seamless payments and getting a business account, Collect is helping businesses grow.
The platform generates regular transaction reports that enable business owners to monitor their cash inflow and outflow, giving them an idea of how their business revenue is performing and helping them grow.
Abraham Ojes, Co-founder/CEO, and Wale Martin, Co-founder/CTO, founded Collect out of a passion for making life easier for business owners.
The Collect team will be releasing more features and innovations that will disrupt digital payments in the coming months.
