TymeBank’s point-of-sale solution, TymePOS, set to empower township businesses

[Johannesburg, 13 October 2022] TymeBank has partnered with Khona La Local Stores to empower local businesses in Daveyton, Ekurhuleni with an affordable solution that makes it easy for customers to make cashless payments. TymeBank’s point-of-sale solution, TymePOS, is an app that turns any NFC-enabled cell phone into a tap-and-go payment device for debit and credit card payments.

Khona La is a chain of independently owned township based spaza shops, operating under the same brand name, which aims to transform the township and rural retail market by creating eco-systems that benefit store owners (Network Partners) and the communities they serve.

Local grocery shops benefit by saving time and money, buying collectively while being provided with necessary training and skills development. Through Khona La, consumer brands in the FMCG space can be part of a sustainable and socially responsible project that creates opportunities for other township-based value chain businesses such as bakkie owners for stock deliveries, while unemployed local youth could be used as brand marketers.  

The partnership will help various store merchants in Daveyton set up TymeBank business accounts and start using TymePOS. The participating spaza shops will then be able to accept card payments (cashless transactions) for as little as R20, thanks to TymePOS. As part of this partnership, TymeBank has made brand new smart phones available to store owners for the trial period. All selected Khona La network partners will have an everyday business account set up so they can begin transacting right away.

Chief Commercial Officer at TymeBank, Cheslyn Jacobs says the digital bank believes in supporting local communities, especially independent owned community businesses. “What excites us about this partnership is the opportunity to help local entrepreneurs to transform their businesses by providing the latest technology. Spaza shops offer a valuable service to communities and their success can fuel much needed job creation in our townships.  TymePOS is easy to set up, easy to use, offers next day settlement, monthly transactions reports and all this with no paperwork, making it a potential game changer for these businesses.”

Commenting on the initiative, Khona La Local Stores founder Mxolisi G. Buthelezi says: “This venture is a wise choice to boost the township's economy and further reveal untapped potential. Without cash, people in the townships sometimes suffer as they are forced to wait in long queues at ATMs or, worse, travel to shopping malls, using the little money they have to cover other costs like taxi fares. We are grateful to TymeBank for this relationship. Now people can just use their bank card khona la, around the corner, at their local store.” Ends

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Archy Hlahla
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078 079 8867
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