TEASY Mobile Money deploys first commercial Near Field Communication
NFC/Contactless (Tap ‘n Pay®) retail payment services in Nigeria
15
April 2014: Teasy Mobile Money has successfully deployed the
first commercial Near Field Communication (NFC)/Contactless payments solution
in Nigeria.
This
was announced by the Chief Executive Officer of Teasy Mobile Money Musa Ali
Baba, who believed that not only will retail payments be easier and faster,
customer’s satisfaction will be guaranteed.
“We
are very excited with the market opportunity that this solution will bring, we
believe that retail payments will seriously drive up the volume of transactions
as well as grow customer confidence in the mobile payments space” Ali Baba said
He
added that ‘we want to make smaller payments quick, convenient, and contactless
can offer just that.’
Teasy
Mobile Money has always been at the forefront of providing innovative solutions
to drive the adoption of mobile payments as well as financial inclusion.
The company saw the gap and the need to enable wallet payments at existing POS
terminals Ali Baba concluded.
The
solution was provided by VeriFone Mobile Money, which includes the UNI-verse
wallet enablement solution integrating the mobile wallet, banking and
telecommunications provider networks with the point of sale. Teasy has also
deployed VeriFone NFC POS Terminals as well as mPOS terminals supporting NFC
running on the Android operating system.
Also
speaking, Teasy Mobile’s Chief Technical Officer, Stanley Vandu, explained that
customers are provided with NFC stickers which are linked to their mobile
wallet, thus allowing tap and pay transactions to be carried at the POS and
mPOS.
“The
choice of the Biometric/NFC technology was in line with industry standard as
well as global best practices. Contactless payments have seen a steady
rise in countries that have deployed such. In addition, our platform
supports a whole range of services which would allow Teasy to provide a whole
bouquet of financial services ranging m-commerce, cinema to bus ticketing
solutions. This is in addition to the already existing banks account transfers,
airtime top-up, and bill payments”.
The
speed and ease with which these transactions are completed makes for a
wonderful customer experience. The solution also allows the use of biometric
data for secure user identification and authentication aligning with recent
Central Bank of Nigeria (CBN) policies around KYC and financial inclusion.
_____________________
AGBOLADE
Odunyemi A.
Chief
Commercial Officer.
Teasy International Company Limited is a Nigerian
based mobile payment service company which provides a wide range of financial
services through the use of a mobile phone
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