Nigerian fintech launches advanced ePOS system

Tingo Mobile, a Nigerian technology company, has launched Tingo ePOS, an advanced electronic point-of-sale system that is designed to enhance financial transactions in Nigeria.

The Chief Executive Officer of Tingo Mobile Plc, Mr Auwal Muade, said this at a press conference on Tuesday in Lagos.

Muade said Tingo ePOS was established so that debit cards issued to customers could be used at POS terminals and also for online transactions.

The Tingo boss said ePOS would help users withdraw money with a single tap while also helping merchants receive instant payments for businesses with zero maintenance and operational costs.

According to Muade, the Tingo ePOS solution aligns with the company’s commitment to providing businesses with the tools required to thrive in the digital era.

“Tingo Mobile’s ePOS system not only simplifies transactions but also contributes to the growth and success of businesses across the country.

“The ePOS system is more than a payment solution, it’s a catalyst for seamless experiences, bringing people closer in the digital age and transforming the way businesses and communities engage with technology,” Muade said.

Also, Samuel Onwuekwe, Head of Partnerships and Channels Development/Implementation, said the ePOS was a significant value-driven solution for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

He said MSMEs that were often passed on when it came to POS issuance by banks and could now take advantage of their existing Near Field Communication (NFC) enabled mobile phones to accept payment.

NFC is a set of short-range wireless technologies, typically requiring a distance of four centimetres or less to initiate a connection.

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The Group Product Director, Tingo Mobile, Uzo Onumonu, said: “Regarding ePOS, we have prioritised security measures to ensure safe and seamless transactions.

“Our system links each account securely to a specific device, fortifying merchant login details and preventing unauthorised access on alternative devices.

 “This robust security framework underscores our dedication to fostering trust and reliability in every transaction made through Tingo ePOS,” she said.