Across Africa, merchants still rely on cash due to limited access to affordable digital payment tools. High hardware costs, long setup times, and slow onboarding have excluded small and informal businesses from the formal economy.
Zoyk, a licensed Payment Service Provider supported by Velex Investments, addresses these challenges with Soft POS – an Android-based platform that transforms smartphones and tablets into secure payment terminals.
Software-Based POS Designed for Growth
Traditional POS systems rely on costly hardware and installation, limiting adoption among small merchants. Zoyk’s Soft POS eliminates these barriers by running on any Android device, supporting high transaction volumes, remote updates, and reliable performance while reducing operational costs.
Integrated Payment Gateway Infrastructure
Zoyk’s PCI DSS–compliant payment gateway connects banks, mobile money providers, and wallets through a single API, enabling real-time tracking, reconciliation, and multi-currency settlements while reducing cross-border settlement times from days to minutes in Malawi and Zimbabwe.
Messaging Tools for Business Communication
Soft POS includes built-in messaging tools such as OTPs, transaction alerts, and bulk SMS, enabling merchants to manage payments and customer communication on one platform. Depending on the market, messaging runs through Zoyk or local telecom partners, with merchants reporting a 15–20% increase in repeat visits.
Market Rollout and Results
Zoyk has deployed Soft POS across four African markets with strong adoption:
Nigeria: Over 50,000 active Soft POS devices in use across urban and peri-urban merchants.
Zambia: Merchants recorded a 30% increase in digital transactions within three months of adoption.
Malawi & Zimbabwe: Cross-border settlements reduced from days to minutes, improving cash flow management.
Zoyk onboards hundreds of agents weekly. Velex Investments supported this expansion through capital and legal guidance, helping Zoyk meet regulatory requirements and avoid launch delays.
Flexible Pricing and Business Tools
Zoyk uses a usage-based pricing model with no fixed fees or hardware costs, lowering risk for merchants. Soft POS also allows merchants to track sales, issue receipts, and build digital transaction records that support access to credit and microloans.
Strategic Support from Velex Investments
Velex Investments plays a key role in Zoyk’s growth by providing funding alongside legal and regulatory advisory. This support has enabled Zoyk to scale across multiple jurisdictions while remaining compliant with local regulations.
- Clive Nabale, CEO and founder of Zoyk: “Soft POS is more than a product. It helps merchants move forward and take control of their business in a way that was not possible before.”
- Nikita Perevezentsev, Senior Portfolio Manager at Velex Investments: “We focus on making growth possible without unnecessary friction. That is why our support combines innovation with compliance.”
- Artur Mildov, Chief Visionary Officer at Velex Investments: “Zoyk is building a network where merchants and partners grow together.”
Conclusion
Zoyk’s Soft POS, payment gateway, and messaging tools address long-standing barriers to digital payments in Africa. Backed by Velex Investments, Zoyk is enabling faster transactions, stronger business stability, and broader financial inclusion across the continent.
