Absa ushers in a cashless era for Tanzanian businesses

Absa Bank Tanzania has introduced Absa MobiTap, a groundbreaking solution that allows merchants and micro, small, and medium enterprises (SMMEs) to accept card payments using their smartphones, eliminating the need for traditional POS devices.

Absa MobiTap is set to transform the purchasing process for both buyers and sellers by leveraging smartphones as POS terminals. Customers can simply tap their debit or credit cards on an Android phone or tablet to make a payment.

For merchants, the process is equally simple. They can download the Absa MobiTap app from the Play Store, set up their profile, and start accepting card payments without the need for a traditional POS machine. To process a payment, the merchant enters the transaction amount, the customer taps their contactless card on the back of the smartphone, enters their PIN if required, and completes the purchase.

"The introduction of Absa MobiTap underscores our commitment to building a digital-led business that is agile and adaptable to evolving customer needs," remarked Ndabu Swere, the bank's Head of Retail Banking. "We believe this solution will revolutionize how micro, small, and medium-sized enterprises operate in Tanzania, removing barriers and expanding access to digital payment options."

Swere highlighted that many micro and small businesses have been unable to access POS machines due to the significant investment required. Absa MobiTap addresses this challenge by enabling even Uber/Bolt drivers to receive card payments through their phones, offering a secure, faster, and more convenient experience for both buyers and sellers.

"This innovative solution aligns with our organizational purpose of 'Empowering Africa's tomorrow, together, …one story at a time.' We are committed to leading the way in digital innovations and will continue to introduce groundbreaking financial solutions that cater to current and future market needs," she affirmed.

Aron Luhanga, the bank's Head Marketing and Corporate Affairs, emphasized that Absa MobiTap is part of a broader strategy to pioneer digital payment solutions and solidify the bank's position as a market leader in this domain.

"MobiTap allows sellers to leverage their existing technology – mobile phones, which are widely owned throughout the country," Luhanga explained. "In situations where clients do not have smartphones, the bank will provide them with gadgets that enable them to use Absa MobiTap at no additional cost."

Luhanga noted that the solution primarily targets SMEs, particularly 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, and farmers, can benefit from this innovation to enhance their business operations.

In conclusion, Ndabu urged all traders and merchants of all sizes to embrace Absa MobiTap and its ability to facilitate faster, easier, more convenient, and more secure contactless card payments. This adoption will play a crucial role in advancing Tanzania's transition towards a digitized, cashless society, benefiting everyone.