New Card-to-Mobile Payment Solution For SMEs Launched

by Business Watch Team

Absa Bank Kenya has partnered with Visa, a global leader in digital payments, to introduce the Absa Mobi Tap solution, a market-first payment solution that allows small businesses to accept card-based payments from customers using an Android smartphone.

This convenient and secure solution quickens the purchasing process by leveraging the smartphone as a point of sale (POS) and allows customers to simply tap their debit or credit cards on an Android phone or tablet to make a payment.

Merchants will only be required to download the Absa Mobi Tap app from the Play Store onto their smartphone, set up their profile, and be ready to accept card payments without the need for a PDQ/POS machine. To process the payment, the merchant will enter the transaction amount, then the customer will tap their contactless card on the back of the smartphone and enter their PIN if required and complete the purchase.

Speaking during the launch event, Elizabeth Wasunna, Absa Bank Kenya’s Business Banking Director expressed the bank’s strong commitment to digital innovation and focus on providing relevant payment solutions for Kenyan customers and small business owners.

“As a digitally-led bank, we are excited to introduce another first-to-market solution that provides merchants with an innovative and cost-effective solution for their day-to-day business. The new solution will enable businesses to accept contactless payments in a faster, easier, and more secure manner, facilitating the adoption of a cashless society for the benefit of all. This is yet another milestone in our journey to provide cutting-edge, tailored solutions to our customers,” said Wasunna.

Absa Mobi Tap makes use of Near Field Communication (NFC) capabilities which facilitate communication between the merchant’s device and the customer’s contactless payment card. The solution is primarily aimed at small and medium-sized enterprises (SMEs), particularly those with mobile operations that previously relied on cash or electronic funds transfer (EFT). The solution is already in use by merchants such as ride-hailing drivers, restaurants, salons, and hardware shops.

“We understand the difficult and challenging business operating environment for many SMEs today and their need to maintain stable cash flow positions, hence Mobi Tap is removing the burden for SMEs to acquire PDQ machines for their payment needs,” she added.

On her part Eva Ngigi-Sarwari, Visa Kenya’s Country Manager applauded Absa’s commitment to empowering small and medium-sized enterprises (SMEs) by removing barriers and expanding access to digital payment options.

“Along with the ability to accept more payments more easily and grow revenue, Mobi Tap will help increase financial inclusivity by providing under or unbanked SMEs greater access to digital payments. Being a mobile-first country, the solution allows sellers to take advantage of the technology they already have – mobile phones, which are widely owned throughout the country.

The partnership with Absa is part of our strategy to continue growing contactless payments for both consumers and merchants in a world where convenience, immediacy, and simplicity have become critical,” said Eva.

Under the Absa Mobi Tap proposition, Absa will offer an installment plan to the merchants to purchase the NFC-enabled smartphones. The launch aligns with the recent introduction of a Standard QR Code for service providers and banks to boost digital payment usage in the country by making them easier, faster, more convenient, and more secure.

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