Making the right decision about your business’s digital transformation is critical to increasing performance and enhancing productivity for companies of all sizes.
Multiple product offerings and customer solutions are entering the sub-Saharan market at increasing rates and disrupting the narrative of digital payments across the continent. With 54 Countries, Framework conditions in Africa are a steady work in progress with a track record of successes as well as false starts for products with good technical specifications. The failures typically are pinned on shortcomings such as corruption, infrastructure, government regulation, skills shortage, and over-expectations of the emerging middle class. But is the boom of innovation combined with the growing need for new mobile financial services a match made in heaven?
Although Africa is largely a cash-based economy, about 50% of retail customers request to pay for their purchases using digital payment options. Therefore, businesses digitizing their payments has moved from a good to have to a game-changer in what has become the new norm.
Electronic payments and centralizing payments allow businesses to save millions of dollars per year in terms of time, travel, and even unit costs. These changes are affecting the rich and poor, those who are underserved as well as those who aren’t. As a result, businesses can reduce costs, scale, and optimize operations as a result of digital payments.
Businesses looking to digitize payments should consider certain characteristics when selecting a partner to help them along the way. For example, Recent technological advancements have simplified and improved the experiences of businesses to businesses as well as businesses to customers, such as with mobile payments, electronic wallets, and contactless cards. Online payment processing grows, and user demands for additional localized payment features and options lead to growth in multiple directions.
Digital payment companies provide peer-to-peer payments beyond traditional banking models and facilitate a cashless society that can enable any purchase, even mechanical transactions such as parking meters or vending machines. These demands create technical challenges for merchants, processors, and users up and down the transaction path. Below is how Cellulant is using technology to solve this;
To solve this problem, Cellulant has developed a localized yet efficient digital payment tool that ensures that payments and payments are made in currencies that are familiar to Africans across the continent.
Cellulant is addressing fragmentation in payment processing for businesses and retailers via its payment solution – Tingg, a digital payments platform enabling businesses across Africa to accept payments from their customers seamlessly. Tingg’s single integrated solution offers multi capabilities in a simplified payment tool for merchants and businesses to manage their payments with one API across the board. As a result, businesses can allow their customers to make payments for goods and services using locally relevant payment options. Cellulant, through Tingg, is using technology to connect people and their resources, making it easier to do business across Africa.
Tingg makes it easy to collect and make payments across multiple payment methods in different currencies. Businesses can accept payments from multiple payment methods while simplifying the collections and settlement processes with options such as bank transfers, POS, mobile payments, and cards.