Retail customers include:
- Rural households
- Smallholder farmers
- Rural merchants and businesses
SmartMoney serves rural individuals and households including smallholder farmers and villagers generally living on less than USD 2 per day (per person). More than 95% of these stakeholders lack access to a bank account. Their key income generating activity is primarily related to agriculture. Aside from agriculture, their income derives from operating small businesses such as shops, butchers, tailors, barbers, restaurants and guest houses.
SmartMoney serves a diverse range of rural merchants including groceries, hardware shops, restaurants, butchers, guest houses, petrol stations, etc. that range in size from remote rural merchants to larger wholesalers. These merchants accept low value digital payments from the rural community.
Institutional customers include large rural institutions such as:
- Agriculture companies and cooperatives
SmartMoney serves agriculture companies and cooperatives – organisations that buy crops from farmers. These include offtakers of coffee, cotton, maize, beans, cocoa and other crops. In addition, SmartMoney serves rural institutions that receive payments from rural households – most importantly rural schools and churches.