Absa Bank Kenya in partnership with Visa, have introduced the Absa Mobi Tap solution. This is a payment solution that allows businesses to accept card-based payments from customers using Smartphones.
Currently, the solution is only available to Absa customers on Android mobile phones.
Absa Mobi Tap allows customers to simply tap their debit or credit cards on an Android phone or tablet to make a payment.
Absa Mobi Tap Near Field Communication (NFC) comes a week after local bank Kenya Commercial Bank launched their NFC payment platform with visa. Notably, Safaricom had launched M-Pesa 1 Tap solution, but the product was not well adopted by consumers
How Absa Mobi Tap Works?
To accept card payments , Merchants have to download the Absa Mobi Tap app. This is available on Google Play store. Secondly, merchants will set up their profile. Once this done, they will be ready to accept Card payments.
In order, to process the payment, the merchant will enter the transaction amount. Thereafter, the customer will tap their contactless card on the back of the smartphone and enter their PIN if required. This will complete the purchase.
This solution makes it easy for small business owners who do not have PDQ/POS machine. Now, they can receive card payments.
Absa’s NFC solutions is already in use in Kenya. Local merchants such as ride-hailing drivers, restaurants, salons and hardware shops are using it to accept payments.
Currently, most small and medium-sized enterprises (SMEs) rely on cash or mobile money payment.
Absa Mobi Tap is adding another cashless solution that can be used by small merchants. Given the price involved in the purchase PDQ machines, the Mobi Tap will help small traders evade that huddle
Eva Ngigi-Sarwari, Visa Kenya Country Manager said: “Along with the ability to accept more payments more easily and grow revenue, Mobi Tap will help increase financial inclusivity by providing under or unbanked SMEs greater access to digital payments. Being a mobile-first country, the solution allows sellers to take advantage of the technology they already have – mobile phones, which are widely owned throughout the country.“
Today, Kenya is on a digitalisation drive that is spearheaded by the government. Earlier in the year the Central Bank of Kenya (CBK) launched the Kenya Quick Response(QR) Code Standard 2023.
This is another move to enhance speedy, reliable and secure cash transfers.
