Tekedia Capital is super excited to congratulate our portfolio company, Touch & Pay, for launching the “dollar top-ups” as it continues to improve transportation in Nigeria and beyond: “We’re not handling remittances directly- we don’t have the license. We just want people to send money home and pay for the Bus Rapid Transit (BRT) and the train”. Good People, the Cowry card, from TAP, can also do the same for grocery, medical bills, etc.
He further explained that with a $20 transfer from someone abroad, which is approximately N30,000 according to the current dollar/Naira exchange rate, it could be loaded into the recipient’s Cowry wallet, covering transport expenses for a month.
Amid Nigeria’s current rising inflation, which has seen the price of fuel surge as well as increase in food prices, creating financial strain for many Nigerians, this has pushed many to seek more affordable transportation options.
TAP’s newly launched “dollar top-ups” feature is timely, which can help alleviate the exorbitant price of transportation for Nigerians. Notably, this feature, marks a strategic expansion for TAP, moving into cross-border payments while leveraging its robust technology infrastructure and loyal customer base.
TAP supports at least 5 million citizens yearly and is the largest micropayment company in Africa.
Tekedia- and YC-Backed Touch And Pay Introduces “Dollar Top-Ups” For Transport Support in Nigeria
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