CashAfrica

What CashAfrica does

CashAfrica is a Lagos-headquartered Nigerian fintech, founded in 2023, that builds NFC-based contactless payment infrastructure targeted at African markets. The company operates an API-first platform whose flagship product, CashTap, enables banks, fintechs, and merchant platforms to integrate tap-to-pay functionality directly into existing iOS and Android mobile applications and POS devices, processing transactions in approximately one second. A complementary consumer-facing application, CashMobile, allows end users to make contactless payments using Visa, Mastercard, and Verve cards, while Terminal Solutions extends the same rails to POS hardware providers and agency banking operators. Underlying technology includes RESTful APIs, SDKs for iOS, Android, JavaScript, Python, and Flutter, end-to-end tokenization, ISO 27001:2022 and NDPR compliance, and a licensed switching layer via the ChamsSwitch partnership.

The business model combines transaction-based fees (0.3% to 1.5% per transaction depending on size and volume) charged to merchants, quote-based API/platform licensing to enterprise bank and fintech partners with multi-year contracts, and a freemium consumer app. Go-to-market is multi-motion: API-first distribution to financial institutions, channel partnerships with terminal providers, and enterprise field sales with structured sandbox-to-certification onboarding. The company monetizes primarily through take-rate on processed volume across banking, fintech, and merchant customer segments, with named partners including Access Bank, GTBank, First Bank, Zenith Bank, UBA, Fidelity Bank, Sterling Bank, PalmPay, Opay, and Wema Bank. Backers include DraperU Ventures and Afropreneur Angel Group (AAG Capital), alongside NSIA NPI, GTO ORG, and Aidi Ventures, with the company reporting over ₦2 billion processed in payments, 100,000+ taps completed in 2025, and 30% average monthly growth.

Name

CashAfrica

Legal name

CashAfrica Inc.

Website

https://cashafrica.co

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

CashAfrica is a Lagos-based Nigerian fintech that provides NFC-based contactless payment infrastructure (CashTap API) enabling banks, fintechs, and merchants to offer sub-second tap-to-pay functionality through existing mobile apps and POS devices across Nigeria.

Ownership category

akta.pro rank

Product category

Contactless Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

akta.pro secondary industries

Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB), In-Store Contactless & NFC Acceptance (Tap-to-Pay, EMV Contactless) (FSAMADAF), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ), Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC)

Keywords

• Contactless payments
• Tap-to-pay infrastructure
• NFC payment API
• Mobile payment SDK
• Payment processing platform

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Transaction Fees (Take Rate): Merchants are charged between 0.3% to 1.5% per transaction depending on transaction size and volume. This is the primary revenue stream where CashAfrica earns a percentage of each tap-to-pay payment processed through its infrastructure.
2. API/Platform Licensing: B2B revenue from licensing CashTap API and infrastructure to banks, fintechs, and payment service providers. Partners integrate the API into their existing mobile applications to enable contactless payment functionality.
3. Consumer App (CashMobile): CashMobile consumer app available for download, with potential premium features or card funding mechanisms generating revenue from end consumers.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

CashAfrica provides NFC-based contactless payment infrastructure that enables banks, fintechs, and merchants to integrate tap-to-pay functionality into existing mobile applications and POS devices via its CashTap API, SDKs, and white-label solutions. The platform powers sub-second transactions, real-time settlements, and supports Visa, Mastercard, and Verve cards, with a consumer-facing CashMobile app also available.

Product overview

CashAfrica operates as a contactless payment infrastructure company offering a unified platform that enables tap-to-pay functionality across Nigeria. The portfolio consists of CashTap as the core API product powering contactless payments for banks and fintechs, CashMobile as the consumer-facing tap-to-pay app for end users, the CashAfrica API providing developer tools and SDKs for integration, and Terminal Solutions for POS terminal and agency banking operators. The platform connects to over 10 banking partners including PalmPay, Sterling Bank, UBA, Zenith Bank, and others, with infrastructure supporting a 30+ million wallet ecosystem. All products share the same NFC-based contactless payment rails and emphasize sub-second transaction processing, end-to-end encryption with tokenization, and regulatory compliance.

Differentiator

Problem solved

Functional benefit

Brands

• CashTap: Contactless payment API that powers tap-to-pay directly from bank and fintech apps and existing POS devices.
• CashMobile

Products and services

• CashTap CashTap is CashAfrica's flagship contactless payment API and infrastructure that enables banks, fintechs, and merchant platforms to integrate NFC-powered tap-to-pay functionality into existing mobile applications and POS devices, processing transactions in under one second with real-time confirmations and instant settlements.
• CashMobile CashMobile is CashAfrica's consumer-facing tap-to-pay application available on iOS and Android that enables everyday users to make contactless payments at POS terminals by tapping their smartphone, supporting Visa, Mastercard, and Verve cards with 1-second transaction confirmations and cashback rewards.
• Terminal Solutions Terminal Solutions enables POS terminal providers, payment service providers, and agency banking operators to connect existing hardware to CashAfrica's contactless payment rails, offering real-time settlements, analytics dashboards, white-label customization, and competitive commission structures for partners.

Quantifiable outcome

• ₦2 billion+ processed in private beta environments
• +6 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core, flagship and minor.

• ChamsSwitchcoreTechnology or Integration · 4 May 2026CashAfrica partnered with ChamsSwitch to advance tap-to-pay adoption across Nigeria by combining their respective payment infrastructure capabilities. CashAfrica contributes its NFC-based contactless layer and CashTap solution, while ChamsSwitch provides its licensed switching, processing, and scheme integration infrastructure. The partnership creates a complete, compliant, and interoperable contactless payment stack designed for banks, fintechs, and merchants operating in Nigeria's digital payments ecosystem.
• PalmPayflagshipChannel Partner/ Reseller/ DistributorStrategic partnership with PalmPay for initial rollout of 1,000 POS terminals with pathway to scale across PalmPay's 300,000-terminal network. CashAfrica's contactless infrastructure enables tap-to-pay acceptance at PalmPay POS locations.
• SupplyacoreChannel Partner/ Reseller/ DistributorPartnership to enable 1,000 POS machines to collect contactless payments across Nigeria. The rollout includes a comprehensive KYB process to verify participating retailers with guidance on maximizing new POS system benefits.
• Termii GroupminorGTM or Marketing PartnerEvent partnership for Elevate 5.0 conference where CashAfrica showcased tap-to-pay technology to 1,000+ attendees.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Interswitch: Nigeria's dominant payment switching and infrastructure provider. Most directly comparable to CashAfrica as both operate licensed payment rails serving banks and merchants across Nigeria, though Interswitch is far more established with broader scope.
• Flutterwave: Pan-African payments infrastructure provider enabling bank and merchant integrations. Closely comparable business model (API-first payment infrastructure for African markets), with overlapping bank and fintech partner targets.
• Paystack: Nigerian payment gateway (now Stripe-owned) offering APIs for payment acceptance. Comparable as a developer-first payment infrastructure provider targeting African banks, fintechs, and merchants.
• Moniepoint: Nigerian POS and agency banking provider with extensive terminal network. Comparable distribution model — connecting merchants and agents via payment rails — and overlapping POS terminal partner ecosystem.
• Opay: African mobile payments and super-app with consumer wallet and merchant acceptance. Already a CashAfrica customer/integration partner; comparable on mobile tap-to-pay and merchant acceptance for African markets.
• Paga: Nigerian mobile payments platform serving consumers and merchants. Comparable target customer base (unbanked/bankable Nigerians, merchants) and overlapping payment acceptance use cases.

Broad incumbents

• Block (Square): Global POS and payment infrastructure company. Comparable product category (POS hardware + software stack for contactless acceptance), though operating in mature US/EU markets rather than emerging African markets.
• Stripe: Global payment infrastructure giant with developer-first APIs. Comparable API-first platform business model and target of bank/fintech integrations, though Stripe does not specialize in African NFC tap-to-pay.
• Visa: Global card network underpinning NFC contactless acceptance. Comparable at the scheme/rails layer (Visa cards are accepted on CashAfrica's platform), and a potential competitor if Visa launches direct tap-to-pay services in African markets.
• Mastercard: Global card network and NFC acceptance standard-setter. Comparable at the rails layer and a strategic complement (CashAfrica accepts Mastercard), but Mastercard's MTN/Africa expansion poses a long-term competitive threat.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cashafricaco
• Facebookfacebook.com/CashAfricaco
• LinkedInlinkedin.com/company/cashcardng
• Instagraminstagram.com/cashafricaco

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CashAfrica