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Interswitch East Africa (Kenya) Limited, Africa’s leading integrated payments and digital commerce company, has announced a strategic partnership with Elie Technologies Proprietary Limited, trading as Tuma, to revolutionize the payment landscape in Kenya.
The collaboration introduces Tumatap, a cutting-edge contactless payment solution designed to empower Micro, Small, and Medium Enterprises (MSMEs) by enabling them to accept payments via any Android, iOS smartphone, or even feature phones, transforming these devices into powerful point-of-sale (POS) systems without the need for additional hardware.
This innovative solution marks a significant advancement in financial technology, as it allows merchants to process payments seamlessly and securely. The Central Bank of Kenya (CBK) has approved Interswitch to switch and process card transactions for Tumatap merchants, in line with the National Payment Systems Act, 2013, and the National Payments Systems Regulations, 2014. This regulatory endorsement ensures that the solution adheres to Kenya’s stringent financial and operational standards.
The partnership combines Elie Tech’s innovative soft POS technology with Interswitch’s extensive expertise in payment processing and fraud protection, offering real-time transaction processing for a seamless payment experience. Peter Kawumi, Regional Managing Director of Interswitch East Africa Limited, emphasized the significance of the collaboration, stating, “This partnership allows us to leverage each other’s technological and operational expertise to deliver an enhanced payment experience for business owners and customers. At Interswitch, we are dedicated to building a more financially inclusive ecosystem, and this collaboration reinforces that commitment. Together, we are reshaping the payment landscape in the market.”
Wesley Masinde, Co-Founder and Chief Commercial Officer of Tuma Inc., echoed Kawumi’s sentiments, highlighting the partnership’s transformative potential for small businesses in Kenya. “Our partnership with Interswitch is a game-changer for MSMEs in Kenya. By combining our innovative contactless merchant acquiring soft POS technology with Interswitch’s robust switching and card processing capabilities, we are equipping merchants with a powerful tool to enhance their payment processes and grow their businesses. We are excited about the potential of this collaboration to drive financial inclusion and empower small businesses across the country,” said Masinde.
Tumatap is designed to align with evolving consumer preferences, offering a quick and convenient checkout process by allowing customers to simply tap their card or device on a merchant’s smartphone. This local switching solution also provides a cost-effective alternative to international processing systems, making it an attractive option for merchants.
Beyond improving customer experience, Tumatap offers significant operational advantages for businesses. The real-time data collected from transactions provides valuable insights into customer behavior, enabling merchants to optimize their business performance. This feature is especially beneficial for MSMEs, as it helps them reduce transaction costs, enhance operational efficiencies, and make informed business decisions.
The partnership between Interswitch and Elie Tech is set to cater to a wide array of sectors, including Hotels, Restaurants and Cafeterias (HORECA), Bars and Lounges, Wines and Spirits outlets, Cosmetics outlets and Spas, Pharmaceutical Shops, and Small-scale retail kiosks and stores. This broad reach ensures that businesses of all sizes can benefit from the innovative payment solutions provided by the partnership.
Interswitch’s collaboration with Elie Technologies underscores its commitment to driving financial inclusion and advancing the digital economy in Africa. As Interswitch continues to expand its footprint and introduce new technologies, it remains dedicated to making digital payments accessible, secure, and beneficial for all.
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