Cellulant sets ambitious target to lead global payment industry

Leading Pan-African payments company, Cellulant, has set a target to become the leader in the global payment industry through improving its visibility within the country and across the world.

According to the Country Manager, Mr Eric Kortey, the Bank of Ghana (BoG) has licensed the company’s payments platform,Tingg and his outfit would rely on it to penetrate the Ghanaian and other markets.

He said the company achieved about 60 per cent in revenue growth last year and efforts were being made to engage in brand awareness initiatives that would not only increase revenue but make them number one as far as ease of payments in the country and beyond were concerned.

“In a period of five to 10 years, we are working to become the number one payments company globally. We are poised for success and making Tingg the number one brand or the go-to product for everyone,” he stated in an interview with the Ghanaian Times. We are in 18 African countries but power payments across 35 African countries and our growth agenda for Africa is that, between 2022 and 2024, we are increasing our mileage,” MrKortey said.

He explained that, since the acquisition of the BoG license in 2019 as one of the first Payment Service Providers (PSPs), the company had seen massive growth and working strategically to have their footprints at every part of the country.

Mr Kortey said Cellulant wanted to become the number one in Ghana, supporting businesses, banks, merchants and government’s digitisation agenda by working on some of government’s digitisation products to enhance the ease of payments in Ghana which would boost economic growth.

“Our main business target includes the banks, merchants including the tier two merchants and have since powered banks including Stanbic, Ecobank, Stanbic Bank and Absa and merchants including Glovo, Jumia and Kikuu,” he stated.

The Country Manager of Cellulant announced their latest partnership with Africa’s global bank, United Bank of Africa (UBA), that would enhance payment services for merchants and consumers across 19 countries.

The countries, he mentioned included Nigeria, Kenya, Ivory Coast, Zambia, Tanzania, Uganda, Benin, Burkina Faso and Ghana.

 “This is the latest in a line of new partnerships for Cellulant as it continues to expand its network with leading financial institutions like UBA, using the company’s payments platform, Tingg which is now available in 120 banks,” he stated.

Mr Kortey said “Already, over US$15 billion in gross value payments are processed by Cellulant across the shared markets and this partnership has the scope to expand the numbers significantly.”

“We are excited to welcome UBA as a new banking partner since the payment landscape in Africa continues to evolve, we believe that Fintechs and banks need to have a deeper collaboration in expanding opportunities that would help ease payments and collections for businesses and their consumers across all sectors of the economy,” he stated.

Mr Kortey also disclosed that Cellulant would soon introduce the Digital Payment Acquiring (DPA) which would work with the banks to acquire merchants.

Cellulant is a leading pan-African payments company that provides locally relevant and alternative payment methods for global, regional and local merchants across 35 countries.

BY MICHAEL D. ABAYATEYE

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