Cellulant Zambia has signed an MoU with the Lusaka Chamber of Commerce and Industry (LCCI) that will enable members of the independent business and trade organisation to accept payments from their customers’ mobile money wallets.

Cellulant’s payment platform, Tinggs, which integrates over 290 banks across Africa, is a one-stop payment aggregator for multinational corporations and SMEs.

The company said Tinggs uptake across Africa is on the rise and driven by in-store payments, as well as mobile banking using USSD and QR codes.

Cellulant Zambia country manager Gilbert Lungu said, “Since Tinggs went live, we have over 700 stores across the country who can receive mobile money payments as well as review and reconcile all transactions via a single platform. The unison of mobile payments negates the need to sign up to multiple payments providers and we will soon offer banks as an option, giving the consumers more choices from the comfort of their mobile phones.”

Zambia’s Minister of Science and Technology Felix Mutati urged businesses to be part of the shift to cashless financial transactions that will work for the greater good of the economy.

Mutati said, “Cellulant has bridged the digital payment gap. I’m delighted to note that businesses are migrating to technologies that will enhance efficiency and effectiveness in payment acceptance.”

According to statistics from the Zambia Information and Communication Technology Authority (ZICTA), the number of active mobile money subscribers in Zambia increased from 8.6 million in 2020 to 9.9 million subscribers in 2021.

The volume of mobile money transactions also increased from 746.5 million to 843.1 million, representing an annual increase of 11.7%, while the value of transactions grew from ZMK105.6-billion in 2020 to ZMK 169.4-billion in 2021 representing a growth rate of 60%.