TECNO Mobile, One of Africa’s Leading Mobile Brands To Launch Mobile Wallet & Fintech Services In Kenya & Nigeria From June 2022.
TECNO Mobile, the behemoth Chinese mobile phone brand with a massive uptake in Africa is planning to launch its mobile wallet offering in Kenya and Nigeria this month. TECNO Wallet, as the mobile wallet will be known, has been developed in partnership with third-party financial institutions and will act as a payment wallet and finance app built for its devices and integrated into the soon-to-be-launched CAMON 19 series of phones.
The whole mobile wallet space seems to be getting overly crowded in Africa but TECNO Mobile has the distinct advantage of being one of the largest mobile device brands in Africa with millions of users at scale and this gives them the leverage to actually make a significant dent in the space to become a major fintech player on the continent.
The TECNO Wallet will allow users to make easy and secure payments for a range of services including money transfers, airtime, data, bills, and shopping. TECNO aims to make its wallet is to be a digital and financial hub and lifestyle platform that aggregates products, services, and merchants from across the market, allowing TECNO users to transact, access credit, and enjoy exclusive rewards and promotions as soon as they unbox their smartphone.
At inception, TECNO Wallet will be available for download on selected existing TECNO mobile devices and will come pre-installed on new TECNO smartphones. TECNO wallet was pilot launched in Nigeria in May 2022 and is rolling out to Kenya this month as a key market where Safaricom’s M-Pesa mobile wallet has over 30 million users. Going forward, TECNO wallet will also be launched in Ghana, Tanzania, Uganda, Code d’Ivoire, and Senegal in the second half of 2022.
Some of the key features of TECNO Wallet are as follows:
A smarter way to pay – TECNO Wallet empowers every TECNO smartphone user to pay for anything, anywhere, conveniently and securely. The Wallet introduces a new integrated digital payment experience that makes the process of paying for data, airtime, bills, and shopping fast and reliable.
Digital finance re-imagined – TECNO Wallet is the effortless way to go cashless. Consumers can use the Wallet to handle their everyday transactions such as paying for airtime and groceries at the tap of a button, as well as access innovative financial services, all on one super-app.
All your money in one place – The Wallet helps consumers manage their finances in one place by connecting their existing cards and bank accounts to the app. Compatible with major card schemes and financial institutions in the continent.
Instant Credit – TECNO Wallet integrates a revolutionary digital Instant Credit service that enables its users to access a credit line in seconds and enjoy an interest-free period of up to 16 days powered by licensed financial institutions. Traditional requirements such as paperwork, guarantors or fees are eschewed in favour of a data science-based approach that will empower customers to quickly access credit and grow their limit based on their payment behaviour.
In the near future, TECNO Wallet will also offer cashback and promotional rewards, along with discounts and deals with participating merchants and retailers.