Tola Mobile Processes 15 Million Monthly Transactions in Africa

International mobile payment service provider, Tola Mobile, has today announced further expansion in Africa, it now processes 15 million monthly transactions across the continent with its Tola.wallet platform. The solution enables companies to receive and make real time payments throughout Africa and is experiencing significant month-on-month growth in the number of transactions processed across the regions supported.

In addition to reporting 15 million payments processed per month, Tola Mobile is seeing continued growth across West and East Africa with new offices in Uganda, Ghana and Tanzania. The firm has already launched integrations with two sports brands in Tanzania – Mkekabet and Sokabet, as well as online gambling platforms in both Uganda, Ghana and Mozambique.

In August, Tola Mobile announced a range of updates to its Tola.wallet offering, designed to give customers a seamless mobile payments experience. Tola Mobile can now reconcile transactions that would previously have been delayed or even potentially lost when outages and downtime occur within the region’s Mobile Network Operators.

Africa has seen a significant rise in the growth of its mobile money ecosystem. There are now 30 million mPesa subscribers in Kenya, processing at least 1.1 trillion Kenyan shillings ($10.6 billion) a quarter, a significant percentage of the country’s GDP.

Shane Leahy, CEO of Tola Mobile, comments: “The mobile payment ecosystem has grown significantly within the African market as consumers and merchants look for faster and more resilient ways to make and receive payments. Given the exponential growth of the marketplace, we anticipate that Tola Mobile will be processing one million daily transactions in the region within the next 12 months.”

The advantages of Tola.wallet being able to reconcile lost transactions are numerous, not least of which for the gambling industry, as it ensures there is minimum delay for gamblers to receive payouts into their betting accounts despite unfortunate network outages and downtime.

 

Tola Mobile’s mobile money solution, Tola.wallet, is already the fastest-growing in Sub Saharan Africa; using simple, secure technology to connect businesses to previously unbanked customers. With Tola, consumers can easily make purchases using mobile money – be it buying a takeaway, paying for a taxi ride or placing a bet on a game. To date, the Tola platform in Africa has processed 100 million transactions equating to funds of over $75 million in value.

Tola Mobile is a mobile payment service provider.  We take the hassle, cost and risk out of paying for goods and services by allowing consumers to pay directly from their mobile, charging transactions to a mobile money account.

We make mobile payments simple and in line with technology uptake and consumer expectation.  Unlike other commercial models, our proposition adds value to all parties in the mobile payments ecosystem – merchant, MNO, and consumer. More information can be found at www.TolaMobile.com