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Touch and Pay Launches Cowry Card Cashless Fare Collection Technology on New LRMT Blue Rail Line

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Touch and Pay Technologies [TAP], a Nigerian fintech company and leading processor of micro-transactions in Africa, announced today that for the first time, rail passengers across Nigeria’s largest city, Lagos, can access the newly launched Blue Rail Line using TAP’s contactless Cowry card.

Founded in 2019, by Olamide Afolabi, Kabir Yabo, and Michael Oluwole, TAP was the first payment company in Nigeria to provide payment infrastructure that allowed contactless payment cards to be used on buses and ferries.

The company continues its record of innovation by enabling contactless payment cards to be used on trains in Nigeria. TAP is helping by advancing financial inclusion among the mostly unbanked population with its effective processing of micropayments ranging from 10 cents to $10.

The partnership with the Lagos state government enables Lagosians to use the Cowry card across the 13 kilometres of track proposed for the project.

The first phase of the track, from Marina to Mile-2, supports 200,000 daily passengers, who can now seamlessly enter and exit stations through TAP’s state-of-the-art turnstiles.

Upon completion, phase two, from Mile 2 to Okokomaiko, will enable up to 500,000 daily passengers  to manoeuvre between stations Rail, Bus and Ferry easily.

In Nigeria, 64 million adults don’t have access to banks. This limits people’s ability to withdraw cash for use on public transportation.

To solve this problem, TAP created the Cowry card, an ingenious card that is used to pay for transport digitally, first trailed on buses in 2020,  widening financial inclusion for Africa’s unbanked population.

In just four years, Cowry cards have been used in six states and helped to make 3.5 million monthly contactless transactions on buses.

Riders touch their Cowry cards against the tempered glass-protected state-of-the-art turnstile validators, which use Near-field communication (NFC) technology to enable communication between cards and the automated collection points. TAP’s pay-as-you-go card dramatically lowers fare evasion.

Unlike riders on other lines, the 500,000 daily passengers using the Blue Rail Line, will not have to endure the old, arduous procedure of having their tickets manually examined. Turnstiles will operate at Alaba, Marina, National Theatre, Mile 2, and Orile.

Commenting on the project, Olamide Afolabi, Co-founder and CEO of Touch and Pay Technologies, said, “We are thrilled to be facilitating and digitising payment on behalf of the Lagos Metropolitan Area Transport Authority (LAMATA). We’ve deployed our NFC payment solutions on BRT buses, ferries, and now trains.

“Our contactless payment solutions have been a huge success. We have created a 21st century solution for today’s passengers. Up until now, train fares typically worked on low-value cash transactions, whereas most electronic cards don’t allow for payment below $10, which was problematic for many passengers.

“Our Cowry card, which enables microtransactions between 10 cents and $10, bridges this gap. People can now use a digital and modern method to pay for their train journeys without carrying huge amounts of cash.

“We are optimistic that even more passengers will discover the benefits of this fast, yet reliable technology, which unifies transportation in Lagos – for the first time.”

Since the Central Bank of Nigeria (CBN) issued its cashless policy in 2012, businesses have attempted to modernise Nigeria’s payment system. TAP is helping to advance financial inclusion among the mostly unbanked population with its effective processing of micropayments, which are essential to the economy.

TAP seeks to digitise the entire informal market with contactless cards and pave the road for genuine financial inclusion by assuring 99.9% reliability in cashless transaction procedures across the entire African economy.

Michael Oluwole, Co-Founder and Chief Growth Officer of Touch and Pay Technologies, said, “Payment is a social issue, not a technological one, which is why solutions to solve transit payment issues are a priority for us.

“In the past, foreign companies were tasked with solving our local transportation problems. We’re pleased that we are the first local company to deliver this unifying solution.”

On the launch, Elias Akin, Chief Technology Officer of Touch and Pay Technologies said “We have taken all necessary steps to ensure that our users data is secure, and the technology is very easy to use because we understand the various demography of our users”

TAP was the first payment infrastructure company in Nigeria to provide payment infrastructure that allowed contactless payment cards to be used on buses and ferries.

 


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E-Business

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

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Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.

The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.

Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,

“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.

According to him, the unified data pool will empower intelligence gathering and targeted operations.

He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.

“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’

Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.

“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’

Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.

“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.

“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).

“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.

Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.

According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.

Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.

Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.


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Konga launches Infinix Brand Week with Incredible Deals

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Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.

Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.

Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.

“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”

To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.


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Study Reveals Software Programmers to make Full Use of AI Code Assistants

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Gartner predicts that by 2028, 75 percent of enterprise software engineers will use Artificial Intelligence (AI) code assistants, up from less than 10 percent, currently.

According to a Gartner poll of 598 global respondents conducted in the third quarter of 2023, 63 percent of organisations are now testing, deploying, or have previously implemented AI code assistants.

AI code assistants provide for more capabilities than only code development and completion, notes the research firm.

According to Gartner, the use of AI code assistants can lead to higher work satisfaction and retention, resulting in lower turnover costs.

Philip Walsh, senior principal analyst at Gartner, comments: “Software engineering leaders must determine ROI and build a business case as they scale their rollouts of AI code assistants.

“However, traditional ROI frameworks steer engineering leaders toward metrics centred on cost reduction. This narrow perspective fails to capture the full value of AI code assistants.”

Gartner notes that software engineering leaders must “reframe the ROI conversation from cost reduction to value generations”.

Walsh adds: “Calculating time savings on code generation is a good place to begin building a more robust value story. To convey the full enterprise value story for AI code assistants, software engineering leaders should connect value enablers to impacts, and then analyse the overall return to the organisation.”

 


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