Tingo Mobile launches contactless ePOS to revultionise payments in Nigeria

Tingo Mobile, one of Nigeria’s leading technology solutions companies, has announced the launch of Tingo ePOS, an innovative electronic point-of-sale system designed to revolutionize financial transactions in Nigeria. Tingo ePOS helps merchants receive instant payments from customers with a single tap of the customer’s card on their NFC-enabled mobile phones.

This was disclosed at a press briefing held at Tingo head office in Lagos on Tuesday, December 12, 2023.

Commenting on the launch, Auwal Muade, Chief Executive Officer of Tingo Mobile Plc, said, “This innovative Tingo ePOS solution aligns with our commitment to providing businesses with the tools they need to thrive in the digital era. Tingo Mobile’s ePOS system not only simplifies transactions but also contributes to the growth and success of businesses across the country.”

He added that Tingo ePOS would help to redefine how people connect, beyond payments.

“At Tingo Mobile, our commitment goes beyond transactions; we are on a mission to redefine the very fabric of how people connect, interact, and transact with a simple tap. Our innovative ePOS system is more than a payment solution—it’s a catalyst for seamless experiences, bringing people closer in the digital age and transforming the way businesses and communities engage with technology,” Muade said.

The Group Product Director speaking on the app’s security stated, “At Tingo, security remains a cornerstone of our product offerings. With Tingo ePOS, we’ve prioritized security measures to ensure safe and seamless transactions. Our system links each account securely to a specific device, fortifying merchant login details and preventing unauthorized access on alternative devices. This robust security framework underscores our dedication to fostering trust and reliability in every transaction made through Tingo ePOS.”

Also speaking about the solution, Samuel Onwnd Small businesses in Nigeria. He mentioned that MSMEs are often passed on when it comes to POS issuance by banks and can now take advantage of their existing NFC-enabled Mobile Phones to accept payment.

Tingo Mobile’s ePOS system is now available for businesses in Nigeria, offering a reliable and efficient solution for handling transactions in today’s dynamic business environment.

About Tingo Group

Tingo Group, Inc. (Nasdaq: TIO) is a global Fintech, Agri-Fintech, food processing, and commodity trading group of companies with operations in Africa, Southeast Asia, and the Middle East. Tingo Group’s wholly owned subsidiary, Tingo Mobile, is a leading Agri-Fintech company operating in Africa, with a comprehensive portfolio of innovative products, including a ‘device as a service’ smartphone and a value-added service platform. As part of its globalization strategy, Tingo Mobile has recently begun to expand internationally and entered into trade partnerships that are contracted to increase the number of subscribed farmers from 9.3 million in 2022 to more than 32 million, providing them with access to services including, among others, the Nwassa ‘seed-to-sale’ marketplace platform, insurance, micro-finance, and mobile phone and data top-up. Tingo Group’s other Tingo business verticals include TingoPay, a SuperApp in partnership with Visa, offering a wide range of B2C and B2B services including payment services, an e-wallet, foreign exchange, and merchant services; Tingo Foods, a food processing business that processes raw foods into finished products such as rice, groundnut oil, nut products, wheat, millet, and maize; and Tingo DMCC, a commodity trading platform and agricultural commodities export business based out of the Dubai Multi Commodities Center. In addition to its Tingo business verticals, Tingo Group also holds and operates an insurance brokerage platform business in China; and Magpie Securities, a regulated finance services Fintech business operating out of Hong Kong and Singapore, which, as relatively small businesses within the Company, are currently in the process of being reviewed and re-positioned. For more information visit tingogroup.com.