Tecno to Launch Mobile Financial Service in Kenya: Tecno Mobile, a subsidiary of Chinese phone maker Transsion Holdings, will launch a new mobile wallet service in Kenya that will allow people to pay for small businesses and businesses.
The company announced Thursday that it will turn smartphones into payment terminals. The service is scheduled to start in the middle of this month and will be launched in partnership with several third-party financial institutions.
“Tecno will be available for download on select existing device families and will be pre-installed on new Tecno smartphones, including the upcoming CAMON 19 series due in June 2022,” the company said in a statement.
The wallet pilot launched in Nigeria in May and is expected to launch in Kenya in June.
“Future launches will include Ghana, Tanzania, Uganda, Côte d’Ivoire, and Senegal in the second half of 2022.”
Tecno hopes to increase equipment sales by opening up financial services. The wallet allows users to pay for airtime, data, and bills.
Apple, Xiaomi, and Samsung have joined the battle for the mobile wallet market.
“Consumers can use the wallet for everyday transactions, such as paying phone bills and groceries at the touch of a button, and accessing innovative financial services through one super app,” Tecno said.
