Absa Bank of Botswana launches the Absa Mobi Tap app to promote financial inclusion in Botswana. This initiative allows merchants and small, micro, and medium enterprises (SMMEs) to process contactless card transactions.
Instead of traditional point-of-sale devices, merchants can now use their smartphones to carry out daily business transactions. The app is being introduced in six countries, including Botswana, Ghana, Uganda, Kenya, Tanzania, and Seychelles.
According to Absa, the app transforms regular Near Field Communication smartphones and tablets into secure contactless payment terminals, eliminating the need for additional hardware or card readers. The solution aims to enable digital transactions for various businesses, such as taxi associations, home and repair services, sports venues, flea markets, exhibitions, and farmers' markets.
According to John D’Souza, Absa’s head of cards and lending, “This is a huge step towards getting the economy digitized. The bank is very interested in the financial inclusion use case by availing this solution to the non-traditional segment of street vendors, hawkers, and individuals having side hustles.”
Keabetswe Pheko-Moshagane, the bank’s managing director, added: “This solution speaks to our key focus in the drive towards digital-first solutions, particularly solutions that are digitally agile and responsive to our customers' needs. We are looking at empowering businesses that do deliveries, transportation, exhibitions, and auctions to bring convenience to cardholders and grow their business.”
The bank sees this as a significant step towards digitizing the economy and promoting financial inclusion for non-traditional segments like street vendors, hawkers, and individuals with side businesses. Absa's focus on digital-first solutions aligns with its goal of providing digitally agile and responsive services to meet customer needs.