Condia Insider: Is Africa ready for contactless payment?
- Nigeria's Access Bank partnered with Visa to launch Tap to Phone, enabling merchants to accept payments via NFC-enabled Android phones.
- Interswitch collaborated with Tuma to introduce a contactless payment system in Kenya.
- Moniepoint and PalmPay partnered with AfriGO to roll out five million contactless cards in Nigeria.
While the growth of contactless payments in Africa is promising, the slow adoption highlights significant barriers that need to be addressed. Infrastructure reliability and consumer trust are critical for the success of these innovations. A collaborative approach involving fintechs, banks, and regulators is essential to overcome these challenges and drive a cashless future.
