What POS Software does for a microfinance institution
A POS rings up each sale, takes M-Pesa and cash, prints a receipt and updates stock in one step. For a microfinance institution, the value shows up exactly where the work is hardest.
Microfinance institutions track borrowers, loans, repayments, savings accounts and compliance. Microfinance margins come from interest income on loans.
Regulators expect clean loan portfolios and transparent interest calculations. Veira handles that as part of the same sale, so compliance is not a separate evening job.
Microfinance Institutions run differently, and the software should too
A generic till misses the details that decide whether a microfinance institution makes money. These are the ones that matter:
- 1
The daily reality
Borrower tracking and repayment follow up. POS Software built for a microfinance institution turns that into a number you can act on, and you also sell in seconds on a phone, tablet or the free Veira terminal.
- 2
Where the margin leaks
Loan portfolio management. POS Software built for a microfinance institution turns that into a number you can act on, and you also take Buy Goods, Paybill and Pochi la Biashara payments at the till.
- 3
What slows the counter
Interest and fee calculation. POS Software built for a microfinance institution turns that into a number you can act on, and you also keep selling offline and sync the moment the network returns.
- 4
What buyers expect
Regulatory compliance. POS Software built for a microfinance institution turns that into a number you can act on, and you also file a compliant eTIMS invoice on every sale automatically.
What to look for in POS Software for a microfinance institution
- Offline mode that keeps the queue moving during outages. This matters for a microfinance institution because of borrower tracking and repayment follow up.
- M-Pesa built in so payments reconcile themselves. This matters for a microfinance institution because of loan portfolio management.
- eTIMS filing included, not a paid add on. This matters for a microfinance institution because of interest and fee calculation.
- Live reports you can open from your phone. This matters for a microfinance institution because of regulatory compliance.
A notebook and a basic till, or Veira
| Notebook or basic till | Veira | |
|---|---|---|
| Counting stock | By hand, rarely matches the shelf | Live by item, branch and value |
| M-Pesa at the counter | Checked on a separate phone | Matched to each sale automatically |
| eTIMS invoices | Typed in later, if at all | Filed on every sale, even offline |
| Knowing your numbers | A monthly guess | Live margin and takings on your phone |
A real microfinance institution example
A Kisumu microfinance with 1,000 active loans cannot track repayments, defaulters or interest income.
- Borrower tracking and repayment follow up.
- Loan portfolio management.
- Interest and fee calculation.
- Sell in seconds on a phone, tablet or the free Veira terminal.
- Take Buy Goods, Paybill and Pochi la Biashara payments at the till.
- Keep selling offline and sync the moment the network returns.
Every sale on Veira files a compliant KRA eTIMS invoice, online or offline. Regulators expect clean loan portfolios and transparent interest calculations.
A POS rings up each sale, takes M-Pesa and cash, prints a receipt and updates stock in one step. Here is what that looks like with Veira:
- Sell in seconds on a phone, tablet or the free Veira terminal
- Take Buy Goods, Paybill and Pochi la Biashara payments at the till
- Keep selling offline and sync the moment the network returns
- File a compliant eTIMS invoice on every sale automatically
Related questions
Frequently asked questions
Is POS Software hard to set up for a microfinance institution?
Does it keep working offline?
Does it handle M-Pesa for a microfinance institution?
Is it KRA eTIMS compliant?
How much does POS Software cost for a microfinance institution in Kenya?
Can it run more than one microfinance institution?
Based on KRA eTIMS regulations and interviews with 5,000+ Kenyan businesses
Whether you run one microfinance institution or several across Kenya, Veira gives you point of sale that fits the trade instead of fighting it. Book a free demo and see it work with your own small loans and credit.