Standard Bank launches digital trade solution for South-African SMEs

Thursday 6 June 2019 11:06 CET | News

South Africa-based Standard Bank has launched SimplyBlu, a digital solution powered by Mastercard that provides e-trade solutions to SMEs.

The solution enables businesses to begin trading on the Internet for a USD 35 once-off set up fee. After that, a monthly subscription fee of USD 38 is payable as well as regular card transaction fees for merchants, according to Standard Bank officials.

SimplyBlu enables users to accept domestic and international credit, debit and prepaid cards from Mastercard, Visa, American Express, Discover, JCB and Diners Club by integrating access to a payment gateway and the bank for webstore payment processing.

The app accepts digital payments through Masterpass, Mastercard’s digital payment service and uses customisable e-invoicing and e-receipting to send electronic invoices and receipts to customers when orders are placed.

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Keywords: Standard Bank, SimplyBlu, product launch, South Africa, Africa, emerging markets, digital trade, E-Trade, e-invoicing, e-receipt, electronic invoice
Countries: World