Other
Oct 2024The company said fundraising talks for a planned $4M round were stalled after it became profitable.
SourceDigitizing and processing Microtransactions in Africa
Company research
Public company, workplace, funding, and market signals
Overview
Touch and Pay Technologies Limited (TAP) is a Lagos-based fintech/payment infrastructure company that uses NFC and a Cowry-branded card/app stack to digitize low-value, high-volume microtransactions in Africa, with a strong transport-payments focus and expansion into other collections use cases.
Primary product
Cowry card and Cowry app, an NFC-enabled microtransaction payment platform
Founded
2017
Headquarters
Lagos, Nigeria
Team size
80-90
Work style
Flexible
Industry
Financial Services
Sub-industry
Fintech / payment infrastructure / NFC payments
Offices
Victoria Island, Lagos, Nigeria
Adeola Odeku Street, Victoria Island, Lagos, Nigeria
Business model
payment processing
transaction commission on fares/payments
government and enterprise payment infrastructure
Funding
Stage
Seed
Total raised
$5.2M
Latest round
Secondary Market · Jan 2024
Latest amount
$50K
People & investors
Leadership
Co-Founder and CEO
Co-Founder and Chief Operating Officer
Co-Founder and COO
Head, Brand and Communications
Engineering
Engineering
Work & culture
Mission-driven, growth-oriented, and centered on freedom and responsibility, teamwork, flexibility, and customer responsiveness.
Work style
Flexible
Compensation
No public compensation bands or salary ranges were found.
Benefits
Healthcare coverage (medical, dental, disability, life, and accident insurance)
Career-growth support
Business courses and workshops
Product & market
Pricing
Commission on fares/transactions, reportedly around 5-10% in transport use cases, plus card/payment-related fees where applicable.
Differentiators
- —NFC-based offline-capable payments
- —Specialization in low-value microtransactions
- —Strong focus on transport payments and cashless transit
- —Proprietary payment protocol designed for high-volume, low-ticket transactions
- —Transparency/accountability dashboard and transaction visibility
Technology
NFC
React
TypeScript
JavaScript
PHP
MySQL
MongoDB
Redux
Azure Data Factory
Zendesk
GitHub
HTML
Vanilla JS
Customers
Lagos transport commuters
Public transit operators
Government collection clients
Merchants and businesses accepting digital payments
Organizations in health, identity management, events, education, and agency services
Competitors
Paga
OPay
PalmPay
CashAfrica
M-Pesa
Scale & contact
Estimated revenue
$1M-$10M
Estimated monthly visits
3.7K
Traffic estimate as of Jul 2026
Signals & risks
Latest news
Businessday · Jul 2026
Profiles TAP as a leading microtransaction payments company, highlighting its proprietary payment protocol, transport/government use cases, and modest Victoria Island office origins.
Tekedia · Jul 2026
Investor commentary describing TAP as a leading microtransaction platform powering Cowry Card and Ije Card across multiple Nigerian cities.
TechCabal · Mar 2025
Reports Euromonitor-backed growth in closed-loop prepaid card usage, over 5 million users, 552,000 cards issued in 2024, and more than ₦20 billion in 2024 transaction volume.
The Condia · Oct 2024
Covers profitability, a dollar top-up feature with Lipaworld, and the company’s claim that fundraising talks for a new $4M round were stalled.
TechCabal · Mar 2024
Details TAP’s transit-payment business, 3.8 million Cowry users, 500,000 daily payments, commission-based revenue, and expansion plans beyond Lagos.
Jobs and careers at Touch and Pay Technologies Limited
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