{"id":755339,"date":"2022-01-18T13:54:02","date_gmt":"2022-01-18T13:54:02","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/01\/18\/new-opportunity-arises-for-digital-entrepreneurs-e-commerce-businesses\/"},"modified":"2022-01-18T13:54:02","modified_gmt":"2022-01-18T13:54:02","slug":"new-opportunity-arises-for-digital-entrepreneurs-e-commerce-businesses","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/01\/18\/new-opportunity-arises-for-digital-entrepreneurs-e-commerce-businesses\/","title":{"rendered":"New opportunity arises for digital entrepreneurs & e-commerce businesses"},"content":{"rendered":"

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While the eventual growth of e-commerce was inevitable, few could have predicted the explosive surge e-commerce has made in the last two years.<\/p>\n

It\u2019s not only big brands making moves online. As more shoppers turn their attention to the digital marketplace, small businesses with tech-savvy owners at the helm are cashing in on the e-commerce boom.<\/p>\n

Unfortunately, it\u2019s not an easy road for small businesses looking to make their first foray into digital commerce as few online payment methods cater to small businesses.<\/p>\n

Many providers charge exorbitant fees and are geared towards larger operations. The resulting shrinking profit margins has traditionally left small business owners asking, \u201cWhat\u2019s the point?\u201d<\/p>\n

For example, one of South Africa\u2019s largest online payment gateways charges 3.5% (excl. VAT) per transaction. They then charge a further R8.70 per payout when a merchant transfers money to their bank account. Again, excluding VAT.<\/p>\n

To a small business owner navigating the daily uncertainties of running a businesses, these costs may not be worth it. As a result, the small business owner misses out on a massive consumer market which is predicted to grow to R225 billion by 2025.<\/p>\n

But not all financial services brands are leaving these businesses to fend for themselves. After a rapid 66% growth in the South African e-commerce market in 2020, iKhokha set about creating an online payment solution to help small businesses thrive online.<\/p>\n

The result is iK Pay Online \u2013 a planned stable of online payment solutions built with small businesses in mind.<\/p>\n

The first of the iK Pay Online products \u2013 the iKhokha Payment Gateway \u2013 recently launched out of beta and has already processed a quarter of a million Rand in merchant transactions.<\/p>\n

WooCommerce and WordPress users now have free access to iKhokha\u2019s first WordPress payment gateway. There are no monthly rental fees, no contracts and no setup costs.<\/p>\n

Even better news for small businesses is that the iKhokha has set their transaction rates at 2.85% (excl. VAT) \u2013 the lowest starting rate in Africa \u2013 with a nominal settlement fee of R2.50 per payout.<\/p>\n

The launch of the iKhokha Payment Gateway has come as a relief to small businesses impacted by a series of setbacks due to the pandemic.<\/p>\n

\u201cI already have a card machine, but usage pretty much stopped during the pandemic,\u201d said an iKhokha merchant on social media.<\/p>\n

\u201cThe e-commerce industry got a major boost, so I\u2019m very happy to be continuing my relationship with the brand [iKhokha]. It\u2019s easily recognised by South African buyers, so that\u2019s an amazing trust factor that boosts customer confidence.\u201d<\/p>\n

The development of the iKhokha Payment Gateway \u2013 which was built in-house by the iKhokha e-commerce team \u2013 further displays their commitment to their merchants and brand story, Together We Rise.<\/p>\n

iKhokha plans to add further products to the iK Pay Online stable over the next five years to give small businesses a fighting chance in a rapidly developing e-commerce space.<\/p>\n

For more information on iKhokha\u2019s Payment Gateway please visit www.ikhokha.com\/pay-online<\/p>\n

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While the eventual growth of e-commerce was inevitable, few could have predicted the explosive surge e-commerce has made in the last two years. It\u2019s not only big brands making moves online. As more shoppers turn their attention to the digital marketplace, small businesses with tech-savvy owners at the helm are cashing in on the e-commerce […]<\/p>\n","protected":false},"author":1,"featured_media":755340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[820],"tags":[],"class_list":["post-755339","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/755339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=755339"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/755339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=755339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=755339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=755339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}