Absa Bank in partnership with Visa launches a new Digital Payment Solution for SMEs

Nairobi, Kenya June 27...Absa Bank Kenya partners with Visa to introduce Absa Mobi Tap solution, a market-first payment solution that allows small businesses to accept card-based payments .

The new solution will see customers simply tap their debit or credit cards on an Android phone or tablet to make a payment, in addition merchants will only be required to download the Absa Mobi Tap app from  Play Store

To process the payment, the merchant will enter the transaction amount, then the customer will tap their contactless card on the back of the smartphone and enter their PIN if required and complete the purchase

"As a digitally-led bank,we are excited to introduce another first-to-market solution that provides merchants with an innovative and cost-effective solution for their day-to-day business, The new solution will enable businesses to accept contactless payments in a faster, easier, and more secure manner, facilitating the adoption of a cashless society for the benefit of all. " said Absa Bank Kenya Business Banking Director Elizabeth Wasunna.

Absa Mobi Tap is primarily aimed at small and medium-sized enterprises (SMEs) particularly those with mobile operations that previously relied on cash or electronic funds transfer (EFT) in addition the solution is already in use by merchants such as ride-hailing drivers, restaurants, salons and hardware shops

“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 the partnership is part of our strategy to continue growing contactless payments for both consumers and merchants, "Eva Ngigi-Sarwari, Visa Kenya Country Manager said

The launch aligns with the recent introduction of a Standard QR Code for service providers and banks to boost digital payment usage in the country by making them easier, faster, more convenient and secure.