Nigeria: Nownow Introduces Integrated NFC Wallet

22 May 2022
Leadership (Abuja)
By Kingsley Okoh

African fintech startup, NowNow Digital Systems Limited, has launched a first of its kind fully integrated near field communication (NFC)-enabled wallet for SMEs, agents and consumers.

This is to further drive financial inclusion for contactless payments transactions to take place on the platform.

The Fintech company aims to eliminate the traditional banking experience by building an ecosystem that digitizes payments and creates access to financial services for businesses, governments and customers in rural and urban communities using simplified branchless banking initiatives.

This new function provides fast, easy, and safe cashless payments for NowNow customers using android smartphones, automated teller machine (ATM) cards, and point of sale (POS) devices.

The most innovative feature of this technology turns smartphones into digital point of sale terminals for micro to small-sized businesses including individuals, agents, and merchants.

Also, With the NFC integration on NowNow wallets, the company's new Tap & Pay and SoftPOS features enable the acceptance and performance of seamless contactless transactions without the need for any additional hardware.

The Tap & Pay feature allows wallet to wallet transactions on NowNow, while the SoftPOS feature allows ATM card to wallet and wallet to POS transactions.

Speaking on the development, co-Zfounder and chief operating officer, NowNow Digital Services, Mahesh Nair, expressed excitement at the feat and affirmed that the new feature highlights NowNow's commitment to enabling seamless financial services in Nigeria.

He asserted that, "we are excited to be the first fintech wallet in Nigeria to launch a fully integrated NFC wallet for our users that enables them to perform contactless payments. The Tap & Pay and SoftPOS solutions represent our dedication to providing seamless digital payments in Nigeria.

"The new NowNow NFC enabled Tap & Pay and SoftPOS solutions provide customer-to-customer (C2C) and customer-to-business (C2B) services, including agent-to-customer offerings. These options enable NowNow merchants and individuals to use payment solutions that are secure and easy to set up," he averred.

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