Touch and Pay Technologies Limited Analysis: $50K Raised
What is Touch and Pay Technologies Limited?
Touch and Pay develops NFC-based payment and services tools for microtransactions in Africa. The company says it digitizes offline and online payments across transport, health, education, events, identity management, and agency services. Its LinkedIn profile states it processes microtransactions in Africa and supports cashless transaction reliability.
Location
1, Adeola Odeku street, Victoria Island, Lagos, Lagos, 102262, NG
Employees
51-200
Founded
2017
Revenue
$0-1M
Investors
- Ecobank Fintech Challenge
- Unicorn Growth Capital
Product Features & Capabilities
- Cowry card, Cowry app, Merchant Payment solutions, Health Touch for healthcare payments, E-Tap for digital payments.
How much Touch and Pay Technologies Limited raised
1 - $50K
Oct 28, 2022Lead Investor: Ecobank Fintech Challenge
Who are the founders of Touch and Pay Technologies Limited
Market Focus
Touch and Pay Technologies Limited primarily focuses on the financial technology industry, specifically on digitalizing micro-transactions in Africa through NFC-powered solutions to promote financial inclusiveness and enhance payment processes across various sectors.
Business Model
Focuses on processing microtransactions and promoting financial inclusion through NFC technology.
Competitors Overview
Touch and Pay Technologies Limited operates in the digital payment solutions market, particularly focusing on NFC-powered micro-transactions in Africa. Its main competitors include:
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Wapi Pay: Founded in 2019 and based in Nairobi, Kenya, Wapi Pay is a leading Africa-Asia financial solution provider. It focuses on FinTech and mobile payments, having raised $2.2 million in funding. Wapi Pay has a smaller team (2-10 employees) and a limited social media presence.
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Swipe: Established in 2018 in Lagos, Nigeria, Swipe aims to drive credit card adoption in Africa through its Cards as a Service (CAAS) solution. It has raised $650,000 in funding and has a larger team (11-50 employees) compared to Wapi Pay, with a more substantial social media following.
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Swiipr: A London-based company founded in 2019, Swiipr offers contactless payment solutions and has raised $7.65 million. It ranks high among competitors with a Tracxn score of 48/100.
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Dejamobile: Founded in 2012 in France, Dejamobile provides mobile technology services and has raised $2.95 million, holding a Tracxn score of 45/100.
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Ellipse: Established in 2017 in the U.S., Ellipse focuses on financial payment fraud prevention and has raised $6.5 million, with a Tracxn score of 44/100.
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ViVOtech: Founded in 2001 in the U.S., ViVOtech specializes in NFC-enabled payment solutions and has raised $96 million, making it a significant player in the market.
Notable differences include the focus areas of each company: Touch and Pay specializes in NFC-powered payment solutions and financial inclusion, while Wapi Pay emphasizes cross-continental financial solutions, and Swipe targets credit card adoption specifically. Additionally, competitors like Swiipr and ViVOtech have raised more funding, which may provide them with a competitive edge in technology and market reach.
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