By BUUMBA CHIMBULU
AN electronic commerce solution that will enable small and large scale businesses to sell their goods and accept payments online has been launched by the First National Bank (FNB) Zambia.
Driven by a steady rise in internet penetration estimated at 52.91 per cent, the e-commerce market in Zambia was poised for growth.
This is according to FNB Zambia Chief Executive Officer, Bydon Longwe.
Mr Longwe explained that this had become more noticeable during the Covid-19 pandemic which spurred consumer expectations that every business should offer the option to digitally pay for their products and services.
“The appeal of convenience, security and simplicity has driven more consumers to prefer a digital shopping experience over the physical alternative, forcing business owners to adapt.
“As a bank keen on helping businesses start, run and grow, we believe that the ability to facilitate online payments for goods and services will inevitably result in increased customer acquisition and improved profit margins for businesses,” he said.
Mr Longwe said the Zambian businesses would succeed as long as they are able o seamlessly adapt and replicate their bricks and mortar services to an online offering.
“Tourism, for example, is very important to Zambia’s economy. It is amongst the sectors earmarked for Government’s economic diversification drive with the potential to be a top Gross Domestic Product (GDP) contributor,” he said.
Mr Longwe said this service would help boost the industry through providing tour operators, hotels and lodges with a secure platform to accept online payments from a pool estimated to be over one million tourists.
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