Interswitch, a leading Nigerian fintech company, has partnered with Elie Technologies, known as Tuma, to launch Tumatap—a new contactless payment solution in Kenya. This strategic partnership is set to transform payment systems for Micro, Small, and Medium Enterprises (MSMEs), providing a more efficient and affordable way for businesses to process transactions.
Tumatap offers a game-changing solution that turns any smartphone—whether Android, iOS, or even feature phones—into a point-of-sale (POS) system without needing additional hardware. This innovative approach allows MSMEs to accept contactless payments using the devices they already own, eliminating traditional barriers to accessing digital payment infrastructure.
The Tumatap system simplifies the checkout process by enabling customers to make payments by simply tapping their cards or devices on a merchant’s smartphone. This technology not only speeds up transactions but also utilizes local processing, making it more cost-effective compared to international systems. Additionally, merchants gain valuable insights into customer behavior, allowing them to refine their business strategies and enhance operational efficiency.
Operating under the regulations of the Central Bank of Kenya, Interswitch has been approved to process card transactions for Tumatap merchants. This collaboration seamlessly integrates Tuma’s soft PoS technology with Interswitch’s established card processing and fraud protection capabilities, delivering a secure and reliable payment experience.
The partnership aims to benefit various sectors, including hotels, restaurants, bars, and cosmetics shops, empowering businesses across Kenya to offer seamless and secure payment options. With Tumatap, Interswitch and Tuma are driving financial inclusion by making advanced payment solutions accessible to MSMEs, a critical component of Kenya’s economic landscape.
Wesley Masinde from Tuma highlighted the significance of this partnership in enhancing financial inclusion for small businesses across Kenya. By leveraging technology, Tumatap is poised to revolutionize how MSMEs interact with their customers, pushing for a more inclusive digital economy.
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