As payments evolve, the collaboration between fintech and traditional banks has become increasingly important. CashAfrica, through its Contactless Payment Infrastructure; CashTap, is at the forefront of bridging the gap, enabling seamless interactions between modern financial services and established banking institutions. CashTap offers a robust API that enables tap-to-pay with existing Fintechs and Traditional bank infrastructures, ensuring fast, secure, and reliable tap to pay transactions.

Our plug-and-play API is designed to integrate seamlessly with both banks and fintechs, allowing our partners to launch tap-to-pay solutions quickly, securely, and without the hassle of complex backend development.

Here are few ways CashAfrica is bridging this gap:

  1. Seamless Integration
    CashAfrica’s CashTap technology enables Banks to integrate effortlessly with traditional banking systems. By offering real-time connections, banks can initiate and settle tap to pay transactions without distributing cards and hiccups from traditional payment methods. This integration not only provides interoperability but also ensures regulatory compliance and uphold security standards.
  2. Bank Interoperability
    CashAfrica has built strategic partnerships with various banks, ensuring that customers can tap to pay seamlessly between each others Merchant and Mobile platforms. This interoperability enhances user value while maintaining the ease of improved payment processing.
  3. Enhanced Customer Experience
    CashTap bridges the gap by offering an enhanced payment experience—users benefit from modern payment, speed and ease of use alongside the reliability and trust associated with traditional banks by access tap to pay from their existing bank apps . With these banking integrations, users can enjoy instant accessibility to the tap to pay payment channel, reduced transaction wait times, and increased security for contactless payments.
  4. Payment Accessbility
    One of the problems CashAfrica is solving with CashTap is to improve accessibility to payment methods by Traditional Banks and Fintechs. By merging tap to pay instant distribution via exiting mobile apps with the infrastructure of traditional banks. CashTap enables the platform enables more people to access essential financial services, regardless of their location or prior banking history.‍
  5. Research-Driven Insights. A recent survey of over a thousand Nigerians revealed that 64% of respondents prefer tap-to-pay using mobile devices over traditional card payments at POS terminals. This data shows a significant shift toward contactless payment solutions and validates the demand for a more efficient, secure, and user-friendly payment experience—one that CashAfrica is uniquely positioned to provide.‍
  6. Future-Proofing Payments. With Nigerian consumer behavior increasingly favoring mobile and contactless payments, CashTap is not only meeting today’s needs but also preparing our partners for tomorrow’s challenges. CashAfrica’s platform ensures that banks and fintechs alike can stay ahead of trends, delivering robust, scalable solutions for the next generation of digital transactions.

In a recent user behavior poll conducted among over a thousand Nigerians, 64% of respondents indicated a preference for tap-to-pay using mobile devices over traditional card payments at POS terminals. This shows a clear shift towards contactless and mobile payment solutions, which provide a faster and more convenient experience for users.

Many card users have also experienced challenges such as network issues and inability to pay even when cards are funded. CashTap is designed to overcome these problems by integrating a secure tap-to-pay system, eliminating the need for physical cards and reducing the risk of fraud. Hence,  improving user payment experience and also ensuring security and convenience, making CashTap a revolutionary tool in the Nigerian payment landscape.

In essence, the CashTap platform isn’t just a technological solution—it is a strategic enabler that harmonizes the agility of fintech with the reliability of traditional banking. By simplifying integration, enhancing the user experience, and leveraging real-world insights, we are setting new standards in contactless payments and paving the way for a more inclusive, efficient, and future-ready Nigerian payment ecosystem.

Rahman Akinosho | Product Intern  | 07 March 2025