TopTrove Foundation’s Post

#fintech makes world of #payments more digitalized and it`s not only about complicated B2B solutions. Not so long time ago tap2phone was a new and innovative fintech solution but now I see many contactless payment technologies that use combination of biotech and fintech approaches. What opportunities do smart payment solutions provide now? 💼 No need to have many credit/debit cards for me as a user. ⚖ No need to have a payment terminal for any kind of a hotel, store, … 🛒 Lower cost of use for any legal entity using mobile POS solutions (by approximately 10%, depends on local legislation). 📈 And many other nice benefits, but the most innovative and even shocking fintech/biotech solutions are coming soon. I`m pleased to be part of this evolution, and thanks InStore Hrvatska and Vadzim Smatrayeu for keeping us informed about recent activities in Croatia. TapxPhone enters Croatia:) #fintech #payments #banktech https://tapxphone.com/ https://lnkd.in/eE38BTZZ

Remember those old phones? 📞 I grew up before the age of smartphones. My parents gave me my first phone around the turn of the millennium so I could stay in touch during school trips. It was a massive, robust brick that was powered by standard AA batteries. Unbelievable, right? While most of us here have moved on to smartphones long ago, feature phones are still a relevant market in many countries. Average unit price is just below $50, which makes them an affordable option for a lot of people. In 2022, a total of 93.2 million feature phones have been sold. They are also going strong in India, having seen a 10% YoY growth from 2022 to 2023. Even in advanced economies like the US, market share of feature phones hovers around 2-3%. From those figures, it becomes clear that we should still take feature phones seriously. This year alone, Nokia has released nine new models, about half of them 4G-enabled. So, what if I told you that those phones could also serve as payment wallets? We love to talk about mobile payment apps, but sometimes, boring technology can also do the trick. This is why Instacash, an Eswatini-based fintech, has developed a payment application for the recent retail CBDC pilot. Using established GSM technology, users of Instacash can transact with Digital Lilangeni via their familiar feature phones. This does not require internet connectivity. The initiative was driven by Instacash: we provided Filia’s standard tools and documentation, but no additional support nor custom developments. This proves that CBDC can be made accessible to a broad range of users. Read more here: https://lnkd.in/dQyZEUUG Background information on the CBDC pilot: https://lnkd.in/dFmq2tz3 #RetailCBDC #MobileWallets #Lilangeni #Eswatini

CORRECTION: Leading fintech M-KOPA reaches 5 million customers, unlocking $1.5bn in credit across 5 markets Read more: https://buff.ly/3XTRhn7 M-KOPA #Africa #Fintech #Smartphones #DigitalFinancing #FinancialServices #Technology #Business #DigitalLoans #Customer #DigitalInclusion #FinancialInclusion

With physical cards, smartphones or any wearables that have the preference of consumers, #Contacless payments offer speed, security, and convenience. Collaboration across the digital payments ecosystem is crucial for driving adoption. In #Ghana, Visa has the firm ambition to accelerate contactless payments, in the country, a key enabler towards a cash light Ghana; Visa therefore emphasizes the need for relentless collective efforts by financial institutions, merchants, and other critical stakeholders to achieve this. Grateful to Business & Financial Times for the platform offered to us to reinforce Visa's commitment and focus to digital payment acceleration in Ghana. For more details, click here: https://lnkd.in/dgNTFXVn Andrew Uaboi Niyi Adebiyi Kwame Agbleze Olufunmi Fagbulu Chidozie Arinze Seun Adaramola Richard Twum, MLIBF, CertRDB, CCSP Senanu Ametame Caleb Izedonmi CCP™, ACIN, CCPP #digitalpayments #contactlesspayments #tap2pay #tap2phone #tokenization #smartphone #nfc #digitalcards

In Africa's lively markets, cash transactions pose significant challenges for retailers. High costs and fees make current digital payments impractical. Partnering with Mobile Network Operators (MNOs), we turn merchants' smartphones into easy-to-use contactless payment devices. This allows merchants to accept digital payments directly from customers using VeryPay tokens linked to their mobile money accounts. Challenges: ❌ High fees and financial exclusion hinder digital payments. ❌ Cumbersome mobile money solutions. ❌ No digital records, making credit access tough. Our Solution: 📲 Smartphones act as low-cost POS devices. 📲Contactless tap-and-go payments. 📲Digital records for easy credit access. Join us on our mission to transform various value chains, such as retail in Africa, empowering merchants with secure, efficient payment solutions. #VeryPay #MobileMoney #Retail #FinTech #FinancialInclusion #Africa #DigitalPayments

What if making payments was as simple as a tap—accessible to everyone, regardless of where they live or the technology they have? 🌍 Here, one of our team members, Judith Kokuletage, demonstrates how the VeryPay app can simplify everyday transactions in Uganda's school system. From paying school fees and buying bus fare to receiving social aid, digital payments offer a safer, more efficient way to handle money. VeryPay offers a wide range of payment options, from cards and QR codes to wearable devices like bracelets or virtual cards, ensuring that even those without smartphones are included. 🤝 By partnering with mobile network operators, we’re reaching last-mile users and creating digital financial records to help merchants and individuals alike access the resources they need. Our goal is to reach those excluded from traditional financial systems by partnering with mobile network operators, creating opportunities for citizens, merchants, and local institutions to participate in the economy safely and conveniently. How do you see contactless payments shaping the future of Africa? 💡 #digitalpayments #financialinclusion #mobilemoney

On this episode of On deck, Segun takes us on a journey of how technology is changing financial services in Nigeria! Find out why fintech is growing fast with help from regulators, young people, and smartphones. Watch the full video here: https://lnkd.in/d26YSPyu #OnDeckWithAnchor #BuildwithAnchor

𝐕𝐞𝐳𝐨𝐏𝐚𝐲 𝐋𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐀𝐟𝐫𝐢𝐜𝐚'𝐬 𝐅𝐢𝐫𝐬𝐭 𝐒𝐦𝐚𝐫𝐭 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐑𝐢𝐧𝐠. VezoPay, a South African company founded by Jacob Pinkus and Lawrence Baker, has launched Africa's first smart payment ring, beating tech giants like Samsung and Apple to the market. The VezoPay ring offers a contactless payment solution that allows transactions without the need for wallets or phones. The ring operates without batteries and is shockproof, dustproof, and waterproof, states Vezopay. Users can make payments simply by placing their hand near a payment terminal. VezoPay ensures the security of payment information on their smart payment ring through a process called tokenization. This replaces sensitive payment details, like credit card numbers, with a unique string of random characters known as a token. This token has no value or meaning outside of the specific transaction, making it useless to anyone who might intercept it. VezoPay's rings use this technology to store only these tokens, not the actual card information, ensuring that even if the ring is lost or stolen, the user's financial data remains safe. Additionally, the VezoPay app allows users to remotely deactivate the ring if needed, adding an extra layer of security. This approach, approved by major payment networks like Visa and Mastercard, ensures that payments are both secure and convenient. VezoPay aims to simplify payment processes and drive innovation in the payment technology space. The company is working with several South African banks to integrate its solution and has received backing from notable investors, including Phuthi M., CEO of Naspers Limited South Africa. With plans to expand beyond payment rings, VezoPay envisions a future where wearable technology enhances everyday life without becoming a distraction. #Payments #Innovation #Tech #Africa Photo Credits: Vezopay.

𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐌𝐨𝐛𝐢𝐥𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐) South Korea mobile payment market size is projected to exhibit a growth rate (CAGR) of 9.60% during 2024-2032. The widespread adoption of smartphones, continual development of high-speed internet infrastructure, the rise in e-commerce sector, significant investments in payment technologies and online shopping represent some of the key factors driving the market. 𝐆𝐫𝐚𝐛 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://lnkd.in/enZvy8-W 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬: ● 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐒𝐡𝐢𝐟𝐭 𝐚𝐧𝐝 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐒𝐮𝐩𝐩𝐨𝐫𝐭: Rising smartphone use, consumer preference for cashless transactions, and government initiatives promoting digital payments are driving mobile payment adoption. ● 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐇𝐲𝐠𝐢𝐞𝐧𝐞 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬: The focus on safe and hygienic transactions due to COVID-19 and advancements in biometric authentication are fueling market growth. ● 𝐓𝐞𝐜𝐡 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Partnerships between tech companies, banks, and telecom providers are fostering user-friendly platforms with advanced features, building trust and attracting users. 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://lnkd.in/ebAjtR4g #mobilepaymentmarket #marketresearch #business #marketanalysis #markettrends #researchreport #marketreport #marketforecast #marketgrowth #businessinsights #industryanalysis #marketoutlook #growthprojections #marketstatistics #competitiveanalysis #trendanalysis #marketinsights #imarcgroup

Absa Bank Kenya has introduced a new "Tap to Pay" service that allows customers to make payments directly using their smartphones, marking a notable advancement in the country’s digital payment landscape. This innovative service enables customers to use their NFC-enabled smartphones as payment terminals, facilitating quick and secure transactions without the need for traditional point-of-sale (POS) systems. The "Tap to Pay" service is designed to cater to the growing demand for convenient and contactless payment options, especially in the wake of the COVID-19 pandemic, which has accelerated the shift towards digital and contactless payment methods. By simply tapping their smartphones on compatible payment terminals, users can complete transactions swiftly, making it an ideal solution for both merchants and consumers seeking seamless payment experiences. #AbsaBankKenya #TapToPay #DigitalPayments #CashlessKenya #FintechInnovation #MobilePayments #KenyaTech #FinancialInclusion #ContactlessPayments #DigitalBanking