BlinkPay – A new cashless payment solution for Uganda

BlinkPay Uganda Cashless payment solution - ugtechmag.com
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Blink Systems Limited is a Ugandan Fintech hub that has dug its interest in providing financial payment solution services to business personnel. Blinkpay is one of the latest products in line, intending to provide cashless solutions to Uganda’s business world. With Blinkpay cashless solution, you don’t need to carry anything like paper or coin money. Just move around with your mobile phone.

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Covid-19 was a motivation for such a cashless solution and in response to the growing tech influence in Uganda, businesses have stood out with the introduction of more cashless transfer apps.

In today’s article, let’s dig in details the features of Blinkpay cashless solution and what you should expect from it. What does it have for your growing business in this Lockdown? Blinkpay cashless solution supports brings ease to the monetary exchange.

What is Blinkpay?

Blink Pay Uganda - ugtechmag.com

BlinkPay is a cashless payment solution for Uganda. Blinkpay has a resourceful development termed as a Point of Sale. It’s a terminal tailored to support Mobile Money. It can as well support daily payment of home utilities by customers for example Yaka or Water bills, as well as home products like salt, sugar, rice.

How does Blinkpay work?

Blinkpay Merchants are stationed at shops, restaurants, schools, fuel stations, and supermarkets where users can access them to pay for utilities such as TC subscriptions, URA taxes and even airtime. The most important idea about Blinkpay is that all transactions and payments are logged, and your will receive a receipt whenever required.

On the other hand of E-commerce, Blinkpay also provides you with a complete Blinkpay API that accepts Mobile Money or Debit or Visa cards which sends all transactions directly to the merchant’s bank or Mobile money account.

With this kind of easy purchase of services, Seller and customers experience a convenient way of doing business that favors a range of commerce, thus; from the smallest shop to the largest business point.

Blinkpay Cashless solution features

Blinkpay cashless solutions provide a range of services to both customers and merchants. Below are different categories of focus.

1. Business Monitoring

Blinkpay cashless solution comes with an intuitive graphical interface that enables business owners to closely monitor different activities in their business such as, incoming payments, stock available, settling funds and so much more.

2. Bank transactions

Blinkpay allows direct payment of receiving of payments to bank accounts through Debit cards. On addition to ATM cards, Blinkpay cashless solution supports VISA card.

3. Payments (Utilities and goods)

Blinkpay supports payment of utilities such as Water bills, pay TV, airtime, and all these done using Mobile money. Simple goods such as Sugar and soap can also be purchased using Blinkpay POS, provided a business is registered has a registered BlinkPay account.

Requirement to obtain a Blinkpay POS

  • A valid Trading License
  • A certificate of incorporation for Companies or a national ID for Sole proprietorship
  • A complete filled sign-up form with terms and conditions provided by Blinkpay Systems

Pricing

To acquire Blinkpay cashless solution, you will need UGX 750,000 (Seven hundred fifty thousand shillings only), the UGX 50,000 used as an administrative fee by BlinkPay and the UGX 700,000 used as your starting float on BlinkPay account. This acts as a threshold for facilitating bill payments and other transactions.

Commission to business owners

For transactions conducted across the various telecom networks, a commission in form of a percentage of the transaction is given to the business owner (BlinkPay merchant). For transactions conducted across Africell & UTL, a 4% commission is given. For Airtel and MTN, a 2% transaction is given. These commissions are paid instantly into their blinkpay accounts or they can be scheduled to be sent to the merchant’s preferred bank accounts or mobile money accounts within any given time.

Commission Sharing

For a BlinkPay merchant, any sale made using Blinkpay, there will be a 3% commission retained by Blink Systems Limited.

NOTE: This 3% commission is not applied to airtime vending and bill payments

Conclusion

As we move into a cashless economy, blinkpay has added to the growing fin tech industry of Uganda. What happens next for Ugandans? Are they ready to embrace innovations such as these, or they are stuck on cash?

ALSO READ: Mobile apps enabling money transactions for small business in Uganda