Kenya’s payments firm Cellulant launches its platform for SMEs and large businesses in Nigeria

NIGERIACellulant, the Kenyan-based payments firm has rolled out a new digital payment platform for SMEs and large businesses in Nigeria.

The company has unified its offering into Tinng, a digital payments platform enabling businesses to seamlessly accept payments from their customers conveniently and affordably.

Tingg aims to boost growth for businesses by standardizing the payment experience for the end-user and simplifies the tools and processes for a merchant to manage their collections.

Tinng was launched back in 2019. The all-in-one, multi-functional consumer super app lets users pay for different services directly from your mobile device. The app supports payments, financial services, and even commerce.

Cellulant is working with different merchants including StarTimes, Ethiopia Airlines, Kenya Airways among others.

More than 70% of businesses in Africa are small or medium businesses and, 90% of these businesses collect payments in cash and lack digital payment options that cater to their customers. For example, in Nigeria, small and medium enterprises contribute roughly 48% of GDP, yet many lack digital tools for transactions.

A single integrated solution, Tingg addresses the complex needs of managing payments for a business by making it easy to collect and make payments with the best customer experience.

Mobile money adoption has increased rapidly over recent years, especially in markets where most of the population remains unbanked. According to Statista, in 2020, 10% of digital payments in Nigeria were transacted through e-wallets.

In addition, NIBBSS recorded that Nigerian merchants and mobile money operators processed over 655 million Point-of-Sale (POS) transactions valued at ₦4.7 trillion (US$13 billion) in 2020. This presents a 50% increase from the previous year.

Nigerian consumers have different payment options, including card, mobile money, bank transfer and cash- with volatile currency fluctuations and no single settlement framework. Furthermore, the demand for digital payments continues to increase.

Today, roughly 50% of retail customers request to pay for their purchases using digital payment options.

However, this demand presents several challenges for most merchants who might not always support the customer’s preferred payment method, resulting in merchants having to enable multiple solutions to support multiple wallets.

In addition, multiple payment methods mean having to manage various merchant tools, accounts, and varying processes for settlement and reversals for a merchant.

Tingg solves this fragmentation challenge by focusing on delivering a graceful user experience for the merchant and their customer.

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