Tola Mobile is a payments solution that provides service which enables merchant businesses to take and make payments directly from Mobile Operator Wallets.
Clients easily deposit their funds in their Mobile Money Wallet and then they can pay everywhere where there is Tola-enabled Merchant business. The technology is the fastest growing mobile wallet integration provider in sub-Saharan Africa. Its ecosystem has expanded within the African market as consumers and merchants are searching for faster and more flexible solutions to receive payments.
Tola Mobile’s payment service provider allows companies to receive payments from mobile money throughout Africa. A single API connection enables organisations to receive and make real time payments in areas such as Kenya, Tanzania and Uganda, at the same rates as bank or credit card transactions.
Designed to give customers a flawless 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. There has been a significant rise in the growth of the Africa’s mobile money ecosystem.A statistic shows that in Africa there are more people that using mobile phones than people owning a bank account. There are now more than 500 million transactions, processing at least $250 minion, which makes Tola Mobile the fastest growing mobile wallet integration technology provider in that part of Africa.
The products that the company offers are a Wallet platform and Mobile Enablement. The Tola wallet is a mobile Wallet technology integration platform. Once integrated to Tola a merchant business has no need to integrate directly with every single different Mobile Wallet technologies in many regions. Tola manages and maintains these integrations and also utilises a transaction platform that supports reporting on transactions in all regions, and transaction integrity for all Mobile Wallet transactions. The main strength of Tola is that the merchant business maintains its own Paybill, and the client is able to manage the funds that are there and Tola is not part of the flow of funds between the business and its clients.
The other payment solution is Mobile Enablement which is set of services which enable mobile centric merchant businesses to extend their product offerings to customers through the Mobile handset. It includes SMS Messaging which supports the merchant business, product or service offerings, Receipts, Notifications, Customer Relationship Marketing messages.
All these features make Tola Mobile the perfect payment solution for many businesses. The gaming and Sportsbook industry doesn’t make an exception. With the adoption of Mobile money the gaming sector has significantly grown in Africa in the past few years. The ability to instantly deposit into an online Gaming platform brings more engaged players and by being able to make an instant payment and withdrawal the customers gain confidence and trust for the gaming industry. With Tola the gaming providers can easily make an integration for the funding of Accounts and payout of Winnings, as well as SMS notifications to the player and fully customised USSD Menus replicating website functions. Some of the advantages of Tola.wallet are that it is being able to reconcile lost transactions and for the gambling industry that ensures there is lower chance of delay for gamblers to receive payouts into their betting accounts without being affected by unfortunate network outages and downtime.
Other markets that can benefit from the Tola Mobile payments solutions are the E-Commerce, where users can process payments of goods and services by using Mobile Wallets; services billing; transportation, logistics and travel ticketing; NGO/ Gpv Depts / Payroll fulfilment; Finance / Fin-Tech.
The platforms of Tola offer a great opportunity for different customer types. It allows merchants and mobile network operators to activate applications and service to benefit of Mobile Money while offering more effective and more inclusive experience to customers. By using a single API to connect to multiple Wallet technologies in different regions, and take advantage of complete transaction integrity on Mobile Wallet transactions