TumaTap provides a SoftPOS solution that transforms compatible Android devices into secure payment acceptance endpoints. This platform allows businesses to instantly accept contactless cards, digital wallets, and mobile money using only a mobile application. The service enables rapid deployment and scales acceptance without the need for dedicated POS hardware, lowering operational overhead.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many small businesses, particularly in emerging markets, face challenges in accepting digital payments due to the high cost and complexity of traditional point-of-sale (POS) systems. This limits their ability to serve customers who prefer card or mobile payments, hindering growth and sales opportunities.
Solution
Tuma offers a software-based POS solution that transforms NFC-enabled smartphones into secure payment terminals, eliminating the need for additional hardware. The Tuma application enables merchants to accept contactless payments from bank cards, smartphones, and wearable devices directly on their mobile phones. The platform also provides features for processing refunds and generating transactional reports, giving businesses a comprehensive tool for managing sales and customer interactions. By partnering with banks and payment processors, Tuma aims to expand access to digital payment infrastructure for underserved businesses.
Target Audience
Tuma primarily targets small and medium-sized businesses (SMBs) and merchants in retail, hospitality, open markets, household services, healthcare, and transport services, especially in regions with limited access to traditional POS systems.
Features
- SoftPOS technology enabling NFC-enabled smartphones to function as payment terminals
- Secure acceptance of contactless payments from cards, smartphones, and wearables
- Integrated refund processing for quick and easy customer service
- Transactional reporting and sales data monitoring directly from the smartphone
- Partnership with UBA Bank to expand reach in African markets
- Compliant with industry security standards for payment processing