Touch and Pay (TAP), a cowry card payment system, has been added to the W22 Y Combinator cohort, raising the total number of Nigerian-founded digital businesses on the accelerator to five.
Moni, Topship, IdentityPass, and Doja are the four Nigerian firms previously mentioned as being financed in this year’s accelerator program.
Because Nigerian tech businesses are receiving a lot of attention from the international world, the likelihood of additional Nigerian tech startups being picked for the accelerator program is quite strong.
TAP plans to use the Y Combinator accelerator program’s support to digitize cash-based microtransactions, grow across African markets, and establish a genuinely cashless ecosystem by using technology to sweep up cash across several industries.
The business has set out to create a one-of-a-kind mobile payment and services platform that captures both offline and online transactions in a seamless manner, with a particular focus on microtransaction processing.
Oluwole Afolabi, co-founder and CEO of Touch and Pay, had this to say about the firm being accepted into the W22 accelerator program. “Touch and Pay wants to use contactless cards to digitize the whole informal market, and it might be a method to achieve genuine financial inclusion.”
The firm aims to change the payment landscape in Nigeria and Africa by encouraging financial inclusion and achieving 99.9% transaction dependability in all areas of the Nigerian economy.