Access Bank, in collaboration with global payments giant Visa, has officially launched the “Tap to Phone” service in Nigeria, a digital payment solution designed to transform how merchants accept payments across the country.
The Access Bank Tap to Phone initiative enables merchants to accept contactless Visa card payments directly through their NFC-enabled Android smartphones, eliminating the need for traditional Point of Sale (PoS) terminals or additional hardware. This innovative approach aims to modernize Nigeria’s payment ecosystem, reduce dependence on cash transactions, and enhance financial inclusion for millions of micro and small businesses.
How the Service Works
The Visa Tap to Phone solution in Nigeria leverages Near Field Communication (NFC) technology, which is integrated into most modern Android smartphones. Merchants simply download an application provided by Access Bank and Visa, transforming their smartphone into a secure mobile payment terminal.
Customers can then make payments by tapping their contactless Visa card or any other NFC-enabled device, such as a smartphone or wearable, on the merchant’s phone. The process is fast, seamless, and adheres to Visa’s robust security standards.
Key Benefits of Access Bank Tap to Phone
The Tap to Phone service brings a range of benefits to Nigerian merchants and consumers:
- Cost Efficiency: Merchants no longer need to invest in or maintain separate PoS devices, significantly reducing operating costs and making it ideal for small and micro-businesses.
- Enhanced Convenience: With just an NFC-enabled smartphone, merchants can accept payments anytime and anywhere—ideal for mobile vendors, delivery services, event sellers, and informal traders.
- Advanced Security: All transactions are processed through Visa’s secure payment network, offering a high level of protection against fraud and enhancing trust among users.
- Boosting Financial Inclusion: With over 40 million small and micro enterprises in Nigeria—many without access to digital payment infrastructure—this solution opens doors to broader participation in the digital economy.
- Support for a Cashless Economy: The launch aligns with ongoing efforts to reduce cash dependency in Nigeria, where cash remains prevalent despite the rise in digital payment adoption.
Read: How the VISA “Citi Optimized Pay” Card Will Benefit SMEs in Kenya
The launch is part of Visa’s larger Tap to Phone program, which has already recorded success in 13 Sub-Saharan African countries, processing over 250,000 transactions. Nigeria now joins this growing network, with the potential for significant impact, particularly as smartphone penetration continues to rise. According to Statista, the number of smartphone users in Nigeria is projected to reach 143 million by 2025, up from 25–40 million in 2023, a promising trend for the adoption of this digital payment solution.
This move also comes amid a broader wave of contactless payment innovations across Africa. In September 2024, Interswitch partnered with Tuma to roll out a similar solution in Kenya, while Moniepoint and PalmPay joined forces with AfriGO to distribute millions of contactless cards in Nigeria. However, Access Bank Tap to Phone distinguishes itself by empowering merchants to use their existing smartphones, offering a practical and scalable alternative that does not require additional hardware.