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To Keep Pace With The Big Guys, Smaller Businesses Are Embracing New Platforms And Payments [Forbes]

Amazon.com, Inc. (AMZN) More Company Research Source: Forbes

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For cash payments, the couple delivered food, groceries and medicine by car, bike, electric scooter, and even on foot. But not long after launch, a problem popped up: Most customers didn't have cash on hand to pay. Instead, Grubmates customers wanted to place orders via WhatsApp and pay with , a popular local mobile banking app. The Popels shifted quickly, adapting their platform to accept Juice among others, after which Grubmates grew at a healthy rate of 16% month over month, with nearly 60% of sales coming from digital payments. getty Like many of today's small and medium-sized businesses, Grubmates' success came in part from embracing alternative distribution channels – in this case, a digital method for accepting orders through WhatsApp. “Alternative distribution channels help small businesses access payments, customers and financial services outside of the traditional banks and acquirers,” explains Jane Prokop, global head of small and medium enterprises at Mastercard. “ [Read more]

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