By delivering online and offline payment solutions, Cellulant, a payments technology company, promises to redefine how businesses in Africa make payments and get paid.
Due mostly to improvements in peer-to-peer (P2P) and consumer-to-business (C2B) payment systems, the payments market in Africa is expanding quickly. Yet, for companies looking to expand into Africa, the fragmentation of payment processing continues to be a major obstacle.
Cellulant, which was established in 2003 during the height of Africa’s mobile technology boom, has experience solving difficult issues. Cellulant is now constructing the most complete payments infrastructure in Africa. The firm provides a single API payment platform that enables businesses to accept payments both online and offline and lets customers use their bank, mobile money, domestic and foreign cards, or mobile wallets.
On a continent where mobile money accounts for 70% of the global market worth $1 trillion, it is crucial to give African consumers additional payment options. With a 3% card penetration rate, international businesses wishing to expand into Africa require a payments partner who can provide local markets with other payment alternatives.
Akshay Grover, Group CEO of Cellulant, said at the recent 25th Annual Harvard Africa Business Conference in Boston that “solving the payments difficulties in Africa is not just about payments but boosting global economic growth.” The dynamic economy of Africa and the absence of a well-established payment infrastructure have led to a first for the continent.
One the one hand, this has sparked the development of payment systems and solutions to address the diverse needs of businesses and consumers, transforming Africa into a hub of innovation in the payments industry. On the other hand, with multiple suppliers, a variety of payment methods are available because there isn’t a unified infrastructure that would allow companies to simply operate across borders or collect payments in a seamless manner. Hence, a payments infrastructure in Africa needs to provide for both the demands of businesses and their customers, regardless of the size of the firm, by making it simple to collect payments both online and offline.
Tingg, a payments platform created by Cellulant, offers multinational and international companies a one-stop shop for all of their payment requirements across the continent.
The payment gateway connects to more than 370 payment options, including banks and mobile money providers from all across the continent as well as national and international card networks including Visa, Mastercard, NIBSS, and Verve.
The payment system is fully capable of accepting offline and online payments. It serves companies in a variety of industries, including airlines, telecoms, e-commerce, ride-hailing, retail, and remittances, enabling these companies to provide their clients a frictionless payment experience.
Now, Cellulant handles billions of dollars annually and powers payments for well-known multinational corporations including Emirates, Bolt, KLM, Ethiopian Airlines, Glovo, Kenya Airways, and Jumia.