pioneer iKhokha has launched its offering into the tap-on-phone market. The move comes amid a period of economic difficulty in the country and a need for innovation to stimulate small business growth.
Contactless payments, otherwise known as “tap & go”, are card transactions that use near-field communication technology to exchange information between devices that are close together. Several local fintech companies have welcomed the adoption of NFC technology. Despite South Africa lagging behind the developed world in terms of 4IR infrastructure, the local market has seen decent uptake in digital devices, making advancements like tap-on-phone sustainable and scalable.There are various tap-on-phone offers on the market currently, with companies in this competitive space always eager to launch new products to help their customer base of small businesses.
Given South Africa’s recent economic troubles, from ballooning fuel prices to record unemployment rates, products like iK Tap on Phone lower the barrier to entry into the informal economy for citizens looking to take initiative.
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