SAN FRANCISCO, USA –News Direct– Cellulant
SAN FRANCISCO, USA – Africa Media Agency – March 31, 2023 – A leading payments technology company, Cellulant aims to change the way businesses make and receive payments in Africa by introducing online and offline payment solutions.
The payments market in Africa is experiencing rapid growth, mainly due to advances in peer-to-peer (P2P) and consumer-to-business (C2B) payment solutions. However, the fragmentation of payment processing continues to pose a significant challenge for businesses seeking to establish a presence in Africa.
Solving intractable problems is not new to Cellulant; founded at the height of Africa’s mobile technology boom in 2003, Cellulant is building Africa’s most comprehensive payment infrastructure. The company offers a unified API payment platform that allows businesses to collect payments online and offline while allowing anyone to pay from their mobile money, local and international cards or bank. Providing alternative payment methods for African consumers is particularly important for a continent that holds 70% of the $1 trillion global mobile money market. The card penetration rate is 3% – meaning global companies looking to expand into Africa need a payments partner that can offer alternative payment methods for the local market.
At the recently held 25th Annual Harvard Africa Business Conference in Boston, Cellulant’s Group CEO Akshay Grover stated: “Solving Africa’s payments challenges is not just about payments, it is about accelerating global economic growth. Africa’s dynamic economies and lack of an established payment infrastructure have led to a unique event on the continent. On the one hand, this has spurred the growth of payment platforms and solutions to meet the various needs of businesses and consumers, turning Africa into a center of innovation in the payments sector. On the other hand, with multiple providers, a wide range of payment methods exists due to the lack of consistent infrastructure allowing businesses to seamlessly collect payments or easily operate across borders. Africa’s payments infrastructure must therefore holistically meet the needs of businesses and their consumers, facilitating the collection of payments online and offline – regardless of business size.
Cellulant built Tingg, a payments platform that provides multinational and international businesses with a one-stop solution for their payment needs across the continent. The payment gateway connects to over 370 payment methods from mobile money operators and banks across the continent to global and regional card issuers such as Visa, Mastercard, NIBSS and Verve.
The payments platform has a full stack of offline and online payment capabilities. It serves businesses across sectors such as airlines, telecommunications, e-commerce, shipping, retail and remittance, enabling these businesses to provide a seamless payment experience to their customers. Today, Cellulant provides payments for renowned global companies such as Emirates, Bolt, KLM, Ethiopian Airlines, Glovo, Kenya Airways and Jumia; and processes billions of dollars annually.
Cellulant is ISO 27001 (ISMS), ISO 27701 (PIMS), ISO 22301 (BCMS), ISO 20000-1 (Service Management) and PCI-DSS compliant for all its payments and collections products.
Cellulant is a leading pan-African payment technology company that provides locally relevant and alternative payment methods for global, regional and local merchants. Cellulant provides a single API payments platform – Tingg – that enables businesses to collect payments online and offline while allowing anyone to pay from their mobile money, local and international cards or their bank.
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