Financial technology company Cellulant on Tuesday officially launched Tingg, a multi-functional consumer app that will collapse payment, commerce and financial services into a single platform.
Tingg which had already been piloted in the country offers third party services ranging from utility payments for water, electricity and airtime made possible by a number of partnerships that the organization has struck with a flurry of service providers.
Speaking during the launch, Cellulant Co-CEO Ken Njoroge said that Tingg targets to tap into the ever-growing African digital payments space.
“Recent statistics indicate that roughly 62 percent of sub-Saharan Africans are unbanked. However, even those of us who are able to open bank accounts often face challenges such as high transaction costs, fragmented markets and inconvenient payment options,” said Njoroge.
“It is for this reason that we have built a digital commerce platform that tackles not only the access problem but also offers a variety of financial services and improved user experiences.” Added the chief executive.
As a platform that supports payments, financial services and commerce at a local level, Tingg seeks to eliminate boundaries across channels and geographies.
Cellulant’s digital payment infrastructure connects consumers and businesses to over 120 banks, 40 mobile network operators in one inclusive network allowing for what the company describes as interoperability.
Bolaji Akinboro, Co-CEO, Cellulant, highlighted: “Currently, Africa moves more money on mobile phones than any other economy in the world and has a growing interest in digital financial solutions. Our team believes that this gives our region the unique opportunity to lead the way in developing robust financial platforms,”
“We are excited to unveil Tingg as a brand that embodies the excitement and promise of our continent. This name, which has been associated with one of our market-leading platforms in Nigeria, will bring all our platforms, including the iconic Mula app, under the umbrella of a single, authentically African identity,” Commented Divine Muragijimana, Chief of Brand at Cellulant.
Through Tingg, consumers can access numerous services across different value chains in key sectors, namely: Agriculture & Retail (farm to fork), Transport & Logistics and e-Commerce.