Absa MobiTap enables sellers to accept card-based payments from customers using a smartphone.
Absa Bank Tanzania has launched the Absa Mobi Tap app, a first of its kind solution in Tanzania which allows merchants and micro, small, and medium enterprises (SMMEs) to use their smartphones for processing contactless card transactions, eliminating the need for the expensive traditional point-of-sale devices.
Absa MobiTap is expected to quicken the purchasing process for both buyers and sellers by leveraging the smartphone as a point of sale (POS) terminal. Customers can simply tap their debit or credit cards on an Android phone or tablet to make a payment.
On the merchants’ part, all they need to do is to download the Absa Mobi Tap app from the Play Store onto their smartphone. Thereafter set up their profile and be ready to accept card payments without the need for a traditional 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 at the launch, Ndabu Swere, the bank’s Head of Retail Banking, said the introduction of the Absa Mobi Tap is a testament to the bank’s strategy to remain focused on building a digital-led business that’s agile and adaptable to the changing customer needs. “As a digitally-led bank, we are committed to leading the way in digital innovations and will continue to launch innovative financial solutions that cater for our current and future market needs and to make sure that our products are designed to address the challenges our customers are facing.
Absa MobiTap is a first of its kind solution in this market and we are proud to be the first bank to bring such an innovative payment solution to Tanzania. We believe this solution is going to revolutionize how micro, small and medium-sized enterprises in the country run their businesses, as it is going to remove barriers and expanding access to digital payment options. Many micro and small businesses could not get access to POS machines due to the heavy investment required for the same, but Absa MobiTap has come to change all that. Now even an Uber/Bolt driver can receive card payments through their phone which is safe and secure, faster, and convenient for both buyers and sellers. This is what our organizational purpose of ‘Empowering Africa’s tomorrow, together, …one story at a time.’, really means", she said.
On his part, Aron Luhanga, the bank’s Head Marketing and Corporate Affairs, said the solution is one of the many that the bank will continue to roll out in pioneering digital payment solutions as Absa strives to cement its position as the market leader in this aspect. He stated, “MobiTap allows sellers to take advantage of the technology they already have – mobile phones, which are widely owned throughout the country. However, in a situation where clients do not have smartphones, the bank will issue them gadgets that will enable them to also use the Absa Mobi Tap at no additional cost.”
According to Aron, this solution is primarily targeted towards small and medium-sized enterprises (SMEs), especially those with mobile operations that previously relied on cash or electronic funds transfer (EFT). Various merchants, such as Uber/Bolt drivers, restaurants, salons, hardware shops, farmers, can all take advantage of this innovation to help them run their businesses more efficiently.
In her concluding remarks, Ndabu, called for all traders/merchants of all sizes (micro, small and medium) to take advantage of Absa MobiTap to enables their businesses to accept contactless card payments in a faster, easier, convenient, and more secure way, facilitating the adoption of a digitized, cashless society for the benefit of all.
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