Waafi by Salaam Bank taps Paymentology to enable Somalia’s contactless payments.

Paymentology, a card issuing platform, has teamed with Salaam Bank's Waafi to launch a co-branded tokenised tap-to-pay digital companion card and physical card for Waafi mobile app customers in the Horn of Africa, a first for the region.

Waafi is a mobile money app born from the collaboration between Salaam Bank, a financial institution in East Africa and telcos in Somalia Hormuud, Telesom, and Golis.

The mobile money app offers communications, entertainment, and payment functionalities intending to promote a digital lifestyle and a cashless society.

Waafi has now turned into a full-fledge digital bank with the extension of its card offering leveraging Paymentology’s issuing processing platform.

This relationship is a big step forward in the region's financial scene, enabling digital and contactless payments via Waafi by Salaam Bank's digital first strategy.

The co-brand collaboration with the Waafi mobile app allows users to digitally open an account, create a digital Mastercard card, attach the card to a wallet or account, tokenise the card on a digital device, and conduct contactless payments with simplicity.

Kirsten Wortmann, Paymentology regional director for Africa commented: "Mobile and digital wallets play a crucial role in the financial ecosystem in Somalia.

“Powering Waafi’s digital money app exemplifies our commitment to advancing financial technology in fast developing markets. We are excited to bring the first digital card to the Horn of Africa, paving the way for a future where digital and contactless payments are the norm."

For Abdiqani Hariir Ismail, deputy general manager at Dara-salaam bank , the digital first initiative is a “testament to Salaam Bank's dedication” to innovation and customer-centric solutions in the East Africa region.

Ismail added: “Through our collaboration with Paymentology and MeaWallet, we are providing our Waafi customers with a next-generation, secure, and convenient payment solution that meets their evolving needs."