Touch and Pay Technologies Limited is a Nigerian fintech company focused on digitizing and processing microtransactions across Africa’s informal sector. Touch and Pay Technologies Limited enables cashless payments for everyday microtransactions, such as bus fares, currently helping over 300,000 people make these payments more efficiently.
The company addresses the challenge of high-volume, low-value transactions that dominate Africa’s informal economy. By providing mobile and digital payment solutions, Touch and Pay streamlines the process for consumers and service providers, reducing reliance on cash and bringing greater transparency to these transactions. Their core technology empowers users to pay for transport and other microservices via contactless cards, mobile wallets, and other digital means, making transactions faster and traceable.
The Technology That Enabled Touch and Pay
Touch and Pay leverages a combination of contactless payment technology, QR codes, and mobile applications to facilitate microtransactions, particularly for public transportation and similar day-to-day services. Their system is designed for the realities of African markets, where cash remains dominant and internet access can be inconsistent. By integrating both offline and online payment capabilities, Touch and Pay ensures users can transact even in areas with limited connectivity.
Who Uses Touch and Pay Technologies Limited?
Touch and Pay primarily serves individuals in Nigeria’s informal sector, with a major focus on daily commuters and public transport users. Their solutions are also adopted by transport operators, government agencies, and other service providers looking to digitize payment collection and improve efficiency. While currently active in Nigeria, their platform is built with scalability to other African markets in mind.
Competitive Landscape: Other Mobile Payment Platforms in Africa
The African mobile payments space is highly competitive, with several established players addressing similar needs across the continent:
- M-Pesa: One of Africa’s largest mobile money services, enabling money transfers, payments, and savings.
- EBANX: Focuses on mobile money payments, supporting users without credit cards or internet access.
- Onafriq: A major digital payments gateway connecting businesses to over 500 million wallets across Africa.
- Orange Money, MTN Mobile Money, and Airtel Money: Popular mobile money solutions with extensive reach in various African countries.
- eClear AG: Covers emerging trends and methods in Africa’s digital payment landscape, including QR code payments and super apps.
Touch and Pay distinguishes itself by specializing in cash-based microtransactions and targeting the informal transport sector, an area often underserved by broader mobile money platforms.
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