he evolution of smartphone technology has been nothing short of revolutionary, particularly for small businesses. One such innovation, Tap-on-phone technology, though still in its infancy, holds immense promise in advancing financial inclusion across Africa.

TymeBank, South Africa’s largest digital bank, recently made headlines by announcing its transition of Tap-on-Phone customers to the iKhokha Tap-on-Phone platform. This strategic move opens doors for business banking clients to leverage iKhokha’s comprehensive suite of business tools, encompassing cash advance products, sales reports, business insights, and online payment acceptance solutions.

Greg Illgner, TymeBank’s Chief Strategy Officer, underscores the significance of providing innovative solutions to South African businesses, viewing it as a vital catalyst for economic growth. He emphasizes iKhokha’s track record and asserts that the collaboration positions iKhokha perfectly to empower TymeBank’s business clientele.

This announcement follows closely on the heels of TymeBank’s landmark achievement of profitability within its first month in December 2023, marking a milestone less than five years after its inception.

Matt Putman, CEO of iKhokha, commends TymeBank for its adept establishment of seamless banking distribution channels across critical sectors of the South African economy. He expresses pride in supporting TymeBank customers with iKhokha’s Tap On Phone technology, foreseeing a continued revolution in the small business landscape. Putman emphasizes the resilience of South Africa’s small business sector despite challenging trading conditions and underscores the commitment to empowering entrepreneurs and SMEs through investments in SME-focused financial services platforms.

The iKhokha Tap on Phone service, now accessible to all TymeBank customers, leverages the smartphones of business owners, offering seamless transactions with no limits and rapid setup. Moreover, a range of card machines is available to cater to diverse business needs.

In addition to Tap on Phone, businesses can opt for various payment acceptance options, including a payment gateway for e-commerce, QR Code and Paylink functionalities, an invoicing tool, and a business management dashboard. These tools provide business owners with daily sales analytics, enabling them to set sales targets, track performance, and generate detailed sales reports.