Imagine walking into a store or interacting with a merchant and, instead of fumbling with cash or declined payments with cards and waiting for transfer confirmations, you simply tap your phone on a POS device—and just like that, your payment is confirmed in under a second! This is the seamless payment experience CashTap brings to life.
But CashTap isn't just about personal convenience. We’ve built a robust B2B infrastructure that empowers banks, fintechs, and merchants to integrate contactless payments into their existing mobile apps and POS devices through our API and plugins. This ensures that financial institutions can provide their users with a fast, secure, and reliable taptopay experience without the need to develop new infrastructure from scratch.
In this blog post, we’ll walk you through what CashTap is, how it works, and how our B2B partners can leverage it to transform payments for their customers.
What is CashTap?
CashTap is CashAfrica’s revolutionary contactless payment solution. It allows users to tap their phones on existing POS devices to make fast and secure payments. The best part? Banks and fintechs can integrate CashTap into their existing apps using our API, so their users can access contactless payment options without switching to a new platform.
Whether you're a merchant using a POS device or a bank or fintech looking to offer your customers the latest in payment innovation, CashTap delivers a frictionless payment experience with no need for additional hardware.
How Does CashTap Work?
CashTap leverages Near Field Communication (NFC) technology to securely process payments between your phone and the merchant’s POS device. Here’s how it works for both individual users and B2B partners:
For Users:
1. Open your regular bank’s mobile app (integrated with CashTap) or the CashMobile app.
2. At checkout, the merchant enters the payment amount into the POS device.
3. Enter your PIN or biometric authentication (for added security) to approve the transaction.
4. Tap your phone on the POS machine to initiate the payment.
5. Receive instant confirmation, and you're done!
For Banks and Fintechs:
1. Integrate our CashTap API into your mobile app—setup takes less than two minutes.
2. Enable your customers to access contactless payments directly from your app without needing new hardware or thirdparty solutions.
3. Offer NFC taptopay functionality for both iOS and Android users.
4. Improve customer retention by giving them fast, seamless payments and better margins with our efficient infrastructure.
Why CashTap for B2B Partners?
CashTap isn’t just a payment feature—it’s a scalable infrastructure designed to meet the needs of banks, fintechs, and merchants. Here’s what makes it unique:
Seamless Integration: Our API and plugins make it easy for banks and fintechs to offer tap-to-pay functionality within their existing mobile apps.
Platform Agnostic: Whether your customers use iOS or Android, our infrastructure works across both, ensuring no user is left behind.
No New Hardware Needed: Merchants can use their existing POS devices to accept contactless payments without purchasing new equipment.
Increased Transaction Speed: Payments are processed in under 1 second, reducing queues and improving the customer experience.
Better Margins for Partners: Our infrastructure allows for lower fees and better margins compared to traditional payment methods.
Frequently Asked Questions (FAQs)
1. Do all phones support contactless payments?
No. CashTap works on NFC-enabled smartphones.
2. How can I know if my phone has NFC?
Go to your phone’s settings and search for "NFC" or "Near Field Communication."
If the option appears, your phone supports NFC technology.
3. Is it safe to use CashTap?
Yes! CashTap uses bankgrade security protocols, and every transaction requires user authorization (PIN or biometric) to prevent unauthorized payments.
4. What happens if my phone is lost or stolen?
Payments cannot be made without your PIN or biometric authentication, ensuring your money remains secure even if your phone is lost.
5. How can banks and fintechs integrate CashTap?
Banks and fintechs can integrate our API within minutes to enable tap-to-pay functionality directly from their apps. We provide comprehensive support to ensure smooth integration and onboarding.
6. Will I be charged for using CashTap?
No, there are no hidden charges for users. Our merchants are charged between 0.3% to 1.5% per transaction, depending on size and volume, making CashTap an affordable option.
7. What if I accidentally tap twice?
Don’t worry! Every transaction requires authorization (PIN or biometric). If you tap twice, you won’t be charged twice because each tap triggers a new approval prompt.
The Power of Partnership: Banks, Fintechs, and Merchants
Our solution is designed to meet the growing demands of contactless payments across Africa. With CashTap, we empower our B2B partners to offer the latest payment technology while also delivering value to their users.
Banks can offer contactless payment options directly from their apps, enhancing customer experience and loyalty.
Fintechs can integrate our infrastructure to expand their product offerings without building new solutions from scratch.
Merchants benefit from faster checkout times and improved customer satisfaction by accepting tap-to-pay payments on existing POS devices.
We’re also working with Sterling Bank, Wema Bank, and Opay to integrate CashTap into their platforms, further expanding the reach of contactless payments across the continent.
Why We Exhibited at Moonshot by TechCabal
At Moonshot by TechCabal, we demonstrated CashTap to thousands of attendees, giving them a firsthand look at the speed, security, and ease of contactless payments.
The goal wasn’t just to showcase our technology but also to educate users and partners on how CashTap works and why it’s the future of payments in Africa. Exhibiting at Moonshot gave us the perfect platform to connect with potential partners and investors, while also collecting valuable feedback from users to refine our product.
Conclusion
With CashTap, we’re not just offering a new way to pay—we’re transforming the payment landscape in Africa. Whether you’re a bank, fintech, or merchant, CashTap delivers a seamless payment experience that’s fast, secure, and scalable.
Join us on this journey toward a cashless future. Download the CashMobile app today or click here to schedule a demo and learn how your business can integrate CashTap for a faster, smarter, and safer payment experience.
Start tapping. Start paying. Start living, the CashTap way.