Today, we continue our conversation on the mechanics of markets as our Faculty Afolabi Olamide of Touch and Pay Technologies Ltd (YC W22), the creators of Cowry card in Lagos, comes to Tekedia Mini-MBA Live. In less than three years, they grew from 1,000 to more than 3 million users, demonstrating the power of innovation.
What do they do? They digitize small payments like N200, N300, etc, making sure that revenue is assured for merchants, owners, vendors and companies. And the vision has worked, maximally: if you take care of the kobos, the Nairas will take care of themselves.
With more than 99% system reliability through a closed network, they made customers to become FANS, and when fandom happens in markets, you thrive. And it is contactless which means the card lasts longer in the rain, sun, and harmattan. Olamide will speak, and we will learn from him on why design wins markets. The market players include danfo owners, bus drivers, shops, etc who upon deploying their solutions see bigger revenue. Yes, when leakages are blocked, revenue increases. You can also see why Tekedia Capital invested in this company.
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