Tingo Group, a profitable and fast growing fintech, agri-fintech and food company, announced the launch of the next-generation version of its super app, TingoPay.
Latest Fintech Interview : Global Fintech Interview with Randall Tidwell, CFO at Serviceaide
Following the completion of a successful beta test on Android, the TingoPay super app is now available as a full version on both iOS/Apple and Android, incorporating state-of-the-art security features such as two-factor authentication and biometric identification.
In response to feedback from the beta test program, the TingoPay User Interface (“UI”) and User Experience (“UX”) has been upgraded and improved, making it easier for users to navigate and manage their finances, make payments and access TingoPay’s full menu of value-added services.
The new full version of TingoPay incorporates an expanded range of features, building on the original offering that included an imbedded Visa card and e-wallet, to make online and physical payments in domestic and foreign currencies and set up repeat payments, and various value-added services including airtime and data top-up, and bill payments. The selection of new features includes retail voucher cards for use with online and offline retailers, the ability to arrange educational courses and exams, and register and pay for cable television.
In addition, the new TingoPay Super App can now interface with a significantly larger number of billers, including ten of Nigeria’s eleven electricity distribution companies, all of Nigeria’s major cable television companies, all of Nigeria’s major mobile telephone companies (for airtime and data top-ups and purchases) and the main educational exam boards in the country.
Tingo Mobile, the wholly owned subsidiary of Tingo and owner-operator of TingoPay, is currently developing a number of new features to add to the Super App as part of a rolling program of enhancements. Such new features include the addition of a wide range of insurance products, a travel booking platform, and a comprehensive retail marketplace.
As the Company diversifies into significant new markets through TingoPay, it is rolling out a wide-reaching marketing plan, which includes social media (#TheTinGoPay), influencer, SEO, and online promotions; radio and television campaigns; an out-of-home advertisement program, and; a range of activations, including the ‘TingoPay X SoundCity Campus Tour’.
Darren Mercer, Chief Executive Officer of Tingo Group, Inc. commented: “Having recently completed the beta-test program, I am delighted to be launching the full version of our TingoPay super app and to expand its market reach through the addition of an iOS version alongside the next-generation Android version.
“I am also thrilled to be deepening our relationship with global payment provider, Visa, as they continue to power our range of retail-customer payment services and digital wallet alongside our wide range of merchant services.
Read More About Fintech Interview: Global Fintech Interview with Alessandro Onano, CMO at Tymit
“I believe that TingoPay’s expanded range of features, value-added services and billing partners makes us one of the most comprehensive super-apps in the fast-growing African market and I am confident we will further strengthen our market-position, increase our brand awareness, and attract significant numbers of users through our ambitious rolling program of technological development and product enhancements.
“As we invest into the marketing and promotion of TingoPay and leverage on the strong reputation of Tingo Mobile we expect our expansion into substantial new target markets to deliver considerable revenues and contribution to the Company and become a major driver of future growth.”
Dozy Mmobuosi, Founder of Tingo Mobile and Chief Executive Officer of Tingo Group Holdings LLC, commented: “Our launch and rollout of the full version of TingoPay marks a further major and very important milestone for Tingo, and we are delighted to be partnered in this venture with such a globally recognized and reputable company as Visa.
“Through TingoPay, it is our goal to become a household name in Nigeria and many of Africa’s other countries as we diversify into the vast and fast-growing digital payments and super app markets. TingoPay is also expected to enhance our ability to achieve our mission of delivering financial inclusion and digital inclusion throughout Africa.
“As we strive towards delivering shareholder value and overcome the disconnect between our share price, I believe that TingoPay has huge potential to accelerate our growth and generate substantial revenue, earnings contribution and capital value.
Browse The Complete Interview About Fintech : Global Fintech Interview with Konstantin Shulga, CEO at Finery Markets
[To share your insights with us, please write to sghosh@martechseries.com]
