African Payments Company Cellulant has debuted a new digital payment platform called Tingg in Ghana to help businesses and customers to make seamless payments.
According to the Cellulant Ghana Country Manager, Eric Kortey, the company’s expansion drive makes it possible to help address a number of challenges in the payment system in the country. “The high costs of digital payments are often passed on to users— an issue Cellulant is trying to fix on the continent.”
The Cellulant Ghana Country Manager indicated that Ghana is fast becoming a hub for FinTech, and a license for the company would open more doors. “Cellulant will roll out Tingg in Ghana in order to provide ways to digitize payments, collect and disburse to customers.”
“Cellulant’s digital payments platform is allowing every Ghanaian to pay for their goods and services through any payment channel of their choice.”
Eric Kortey
Mr Eric Kortey emphasized that the new payment platform in Ghana will help simplify the payment system in the country and address the gaps in the existing payment platforms such as mobile money and others.
“Cellulant is addressing the fragmentation of payments for both businesses and their consumers. The digital platform, which recently also launched in Zambia, offers simplified payment tools and processes for a merchant to manage their payments. As a result, businesses can allow their customers to make payments for goods and services using locally relevant payment options.
“This network represents one of the primary tools in bringing together Africa’s fragmented payments ecosystem, ensuring Cellulant’s Payment Gateway, Tingg, is available to a vast number of merchants and consumers in each of these markets.”
Eric Kortey
Digital Payment System Continues to Grow
Meanwhile, the announcement came at the time when digital payments have seen much growth in the last few years. According to the statistics, about 38.9 per cent of the population over 15 years old has a mobile money account in Ghana. Mobile money has gotten more popular for years, and Ghanaians have adopted more digital payment infrastructure.
The Country Manager noted that faster digital payments, refunds and streamlined shopping carts, have helped out in the B2C space, though the B2B space hasn’t seen the same level of adoption. He added that in the B2B world, vendor payments haven’t gotten as much of the digital transformation as needed, with payments experiences for cross-border and other things remaining somewhat static.
Mr Eric Kortey disclosed that United Bank for Africa (UBA) and Cellulant entered into a partnership to extend payments services for merchants and consumers across the African continent. The announcement is the latest in a line of new partnerships for Cellulant, as it continues to expand its network with leading financial institutions across the sub region. The company’s payments platform, Tingg, now available via 120 banks, is a one-stop payment gateway for multinational corporations, mid-caps and small and medium enterprises (SMEs) alike.
Recently, the Central Bank of Ghana issued Cellulant a Payment Services Provider license, letting the company aggregate merchant services, process financial services, acquire merchants, deploy POS systems and aggregate payments for banks and institutions alongside the general public.
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