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Kenyan FinTech company Kopo Kopo announced the launch of K2 Connect V2, an upgraded version of its application programming interfaces (APIs) designed to help businesses integrate payments directly into their existing software and digital workflows.
The new API version adds features including payment reversals, payment links, bulk payments, expanded Daraja payload support and improved webhooks. The update is aimed at businesses using point-of-sale (POS), accounting, e-commerce, payroll, enterprise resource planning (ERP) and mobile applications.
Founded in 2012, Kopo Kopo provides software for the largest independent merchant network in the mobile money industry.
Their services include payment aggregation, business payments, cash advances, SMS advertising, and business intelligence, available on Android, SMS/USSD, and Web. They also offer tools for merchant acquirers, such as banks and mobile operators.
K2 Connect V2 has introduced several new features:
Payment Reversals: Businesses can now reverse payments directly from their POS systems without needing to switch to the Kopo Kopo app.
Payment Links: Companies can create links for customers to make recurring payments, and they will be notified when payments are completed.
Bulk Payments: Businesses can now send payments to multiple M-PESA numbers or bank accounts at once from their payroll, POS, or ERP systems.
Daraja Payload Switcher: This feature allows businesses to receive payment responses in familiar formats, like M-PESA’s Customer-to-Business (C2B) and Business-to-Business (B2B).
The Kenyan company has also upgraded K2 Connect’s webhooks to provide real-time payment notifications to back-office systems.
According to the company, the improved functionality can allow businesses to automatically update orders, close invoices and trigger other processes when a payment is received, reducing the need for manual reconciliation.
K2 Connect V2 retains existing capabilities such as M-PESA payment acceptance, STK Push requests, bank and M-PESA payouts, transaction polling and real-time payment notifications. It can also connect to platforms including QuickBooks, Xero, Odoo, and WooCommerce, the company says.
“We still support your existing Version 1 integration, so there is no forced migration. That said, we recommend upgrading to Version 2 to enjoy new features and improvements,” says the company.
Kopo Kopo says more than 40,000 businesses are already using its platform to accept payments and automate payouts.
The K2 Connect V2 launch expands the company’s API offering as businesses increasingly look to embed payments directly into the software they already use.
Back in April, Kopo Kopo officially received its Digital Credit Provider (DCP) licence from the Central Bank of Kenya.
