AbsaPay brings Effortless Tap-to-Pay with Your Smartphone in Kenya

Absa Bank Kenya has unveiled AbsaPay, a digital solution that allows customers to make payments securely using their smartphones, just by tapping. AbsaPay promises to revolutionize the shopping experience by enabling customers to complete transactions without needing physical cards. This latest move marks yet another milestone in Absa’s ongoing journey to enhance digital banking in Kenya.

What is AbsaPay?

AbsaPay allows customers to transform their credit or debit cards into digital cards through the Absa Mobile Banking App. The feature leverages Near-Field Communication (NFC) technology, allowing users to tap their phones at any point-of-sale terminal to complete a transaction. This eliminates the need for contact with buttons or terminals, making payments faster, more convenient, and safer, especially in a world where touchless services are increasingly valued.

To activate AbsaPay, customers simply need to install the Absa Mobile Banking App (only for Android phones – as Apple is yet to fully enable NFC use-cases outside Apple Pay), link their cards, and they’re ready to make contactless payments with just a tap of their phone.

Building on Recent Technological Advances

This new feature builds on earlier feats introduced by Absa Bank. Back in June 2023, Absa launched the Mobi Tap Solution, a contactless payment feature that enabled small and medium-sized enterprises (SMEs) to accept card-based payments using an NFC-enabled smartphone. The Mobi Tap app transformed a merchant’s phone into a point-of-sale (POS) device, removing the need for expensive hardware.

The introduction of AbsaPay is a natural progression from this technology, offering the same convenience to individual consumers. Like Mobi Tap, AbsaPay uses NFC to process transactions. When a customer enters the transaction amount, the cardholder can tap their phone at the point-of-sale terminal, simplifying the entire payment process.

Enhancing Convenience and Security

One of the standout features of AbsaPay is its ease of use. By turning a smartphone into a virtual card, it allows users to shop without worrying about carrying their physical cards. It also minimizes the risk of fraud or card loss, as no physical card details are exposed during the transaction. The security protocols built into NFC and the Absa mobile app ensure that every transaction is encrypted and secure.

In addition, AbsaPay will likely appeal to businesses looking for streamlined payment processes, as it reduces checkout time and offers a modern, frictionless experience for customers.

A Part of a Larger Trend: The Growing Popularity of Contactless Payments

AbsaPay’s launch comes amid a growing trend in contactless payments. In November 2023, Absa partnered with the taxi-hailing company Little and Visa to introduce an NFC-powered payment option for passengers. The solution enabled Little drivers to accept card payments via Android smartphones, offering a cost-effective, quick, and secure payment method.

Globally, contactless payments have surged, driven by the need for hygiene and convenience. The COVID-19 pandemic accelerated the adoption of such technology, and now, it’s become a staple in many industries. AbsaPay is set to further drive this trend within Kenya’s fast-evolving digital payments landscape.

Supporting the Move Towards a Cashless Society

The introduction of AbsaPay aligns with Kenya’s shift towards a cashless economy. As digital banking becomes more popular, customers expect seamless integration between their everyday transactions and their mobile banking apps. AbsaPay adds to a growing portfolio of tools aimed at enhancing digital financial inclusion.

With AbsaPay, the bank hopes to encourage more users to adopt digital payment methods, promoting a more efficient and secure way of handling money. This will not only benefit individual consumers but also further drive Kenya’s ambition to be a leader in digital banking and financial inclusion.