KiWi provides a mobile payment solution for micro-businesses in emerging markets, enabling them to accept card payments through Bluetooth-connected readers. The platform offers low transaction fees, next-day deposits, and additional services like installment payments and supplier loans, addressing the need for accessible payment processing and financial support.
Funding
$105.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Micro and small businesses in emerging markets often face challenges in accepting card payments due to the high costs and complexities associated with traditional point-of-sale (POS) systems. This limits their ability to serve customers who prefer card payments and hinders business growth.
Solution
KiWi offers a mobile payment solution that enables micro-businesses to accept card payments using Bluetooth-connected card readers and a smartphone application. The platform provides low transaction fees and next-day deposits, making it easier for small businesses to manage their cash flow. KiWi also offers additional services such as installment payments and access to supplier loans, providing financial support to help businesses grow. The solution allows businesses to accept a wide range of national and international cards, expanding their customer base.
Target Audience
The primary target audience is micro and small business owners in Mexico and other emerging markets who need a cost-effective and easy-to-use solution for accepting card payments.
Features
- Bluetooth-connected card readers for secure and reliable payment processing
- Mobile application for managing transactions and tracking sales
- Low transaction fees (3.2% + IVA) with no minimum sales volume or long-term contracts
- Next-day deposits for improved cash flow management
- Acceptance of major national and international credit and debit cards
- Installment payment options for customers (3, 6, 9, and 12 months)
- Access to "KiWi Kompra" loans for paying suppliers
- Option to sell mobile airtime recharges with a 5% commission
- Bill payment functionality for services like electricity, cable TV, and TAG
- Secure platform with quality certifications and encrypted operations