One of Zambia’s leading telecommunication firms has partnered with the Lusaka Chamber of Commerce and Industry (LCCI) in an arrangement that will see members of the business umbrella organisation offering digital payment options to customers.
Cellulant Zambia announced on Friday that it had signed a memorandum of understanding with LCCI under which the organisation’s members “can now readily access payment solutions that will enable them to accept payments from their customers’ preferred mobile money wallet” from anywhere in Africa.
Cellulant’s payment platform, Tingg, integrates over 290 banks across Africa and is a one-stop payments aggregator for multinational corporations and small and medium enterprises.
“Tingg’s uptake across Africa is in high gear, with products like in-store payments which leverage mobile money and mobile banking as payment methods through USSD and QR Codes,” the company said.
Cellulant’s country manager in Zambia, Gilbert Lungu noted that over 700 stores across Zambia have signed up on the platform since Tingg went live and are able to receive mobile money payments as well as view and reconcile all transactions via the platform.
“The unison of mobile payments negates the need to sign up to multiple payments providers, and we will soon offer banks as an option, giving the consumers more choices from the comfort of their mobile phone,” Lungu said.
He said the platform streamlined business administration processes for merchants while expanding the range of payment options they offer to customers, “ensuring maximum choice and flexibility offline and online.”
There is growing evidence that the Zambian market is ready for intuitive payment technologies that ease doing business.
According to the 2022 Zambia Information Communication Technology Authority Annual Market Report, the number of active mobile money subscribers increased from 8.6 million in 2020 to 9.9 million subscribers in 2021.
Similarly, the volume of mobile money transactions increased from 746.5 million to 843.1 million transactions, representing an annual increase of 11.7 percent.
JN/APA