TECNO Wallet Arrives in Kenya and Nigeria, Will Offer Digital Loans

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Customer at TECNO's flagship store at Sarit Centre

The camera-centric TECNO Camon 19 series will soon be launching in the country. The devices, which are up for pre-order, are some of the most appealing from the company that has been in the smartphone business for more than one decade, and we will be looking into them for additional context just for your consumption.

Now, besides their launch, TECNO, which is under the Transsion umbrella (with Infinix and itel as well) announced another product that we did not anticipate: TECNO Wallet. This follows a similar launch by its sister company Infinix.

TECNO Wallet


The product is part of collaborative efforts between TECNO and other financial institutions. The wallet basically will see customers complete payments and other financial functions in TECNO devices.

It is already integrated in the new devices.

It was first piloted in Nigeria prior to this development.

So, what are the use cases?

Well, similar to other kinds of digital wallets, TECNO customers can use the service to make secure payments, including bill payments, money transfers, data and airtime purchases, and general shopping.

“It aims is to build a digital and financial hub and lifestyle platform that aggregates products, services, and merchants from across the market, allowing TECNO users to transact, access credit, and enjoy exclusive rewards and promotions as soon as they unbox their smartphone,” says TECNO in a statement.

Access

The wallet will be available for download, but not for all TECNO devices.

However, it will come as a standard app in future TECNO devices.

Expected date if arrival should be this month when the TECNO Camon 19 series will arrive for purchase.

For now, TECNO says the wallet will be available in Kenya and Nigeria.

Future launches will target Ghana, Tanzania, Ivory Coast, and Senegal sometime in H2.

Features

Other than paying for the said service, TECNO is calling the wallet a ‘smart’ and secure way to pay for stuff at any time.

It is also being referred to as a super app with additional functionality such as the ability to handle everyday transactions and supports the need to go all cashless.

You can connect your cards to the wallet, and it is compatible with all major card schemes and banks in Africa.


Customers will be able to access credit services. The credit will be interest-free for up to 16 days and will be powered by licensed financial institutions. Of course, this is a digital loan, meaning you will not be required to submit paperwork for access.

Finally, TECNO Wallet will also offer cashback and promotional rewards, along with discounts and deals with participating merchants and retailers.


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Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]