Smartphone manufacturer Tecno is preparing to launch the Tecno Camon 19 series globally and there has been a lot of talks about the features that the new smartphone will bear.
Among unique features that Tecno will bring to the market is Tecno Wallet. The firm has been able to do this through partnerships with third party financial institutions. Tecno wallet will be a payment wallet and finance app built for its devices and integrated into the Camon 19 series of phones.
The tecno wallet will allow users to make easy and secure payments for a range of services including money transfers, airtime, data, bills, and shopping.
It aims to build a digital and financial hub and lifestyle platform that aggregates products, services, and merchants from across the market, allowing Tecno users to transact, access credit and enjoy exclusive rewards and promotions as soon as they unbox their smartphone.
Tecno Wallet will be available for download on selected existing device series and will come pre-installed on new Tecno smartphones, including the upcoming Camon 19 series set to be unveiled in June 2022. The wallet has pilot launched in Nigeria in May, and roll-out to Kenya in middle of June. The future launches will include Ghana, Tanzania, Uganda, Code d’Ivoire and Senegal in the second half of 2022.
According to a 2022 global study conducted by VISA, more than 40 per cent of consumers have already embraced cashless transactions or will only use digital payments within the next two years. Additionally, 59 per cent of small business owners stated they plan to exclusively accept digital payments within the same time frame.
“As the consumers around the world transition from cash transactions to digital payments, Tecno Wallet will be a trusted tool that empowers every Tecno user to enjoy ultimate convenience and make easy, fast and reliable payments.” said Danni Xu, Global CMO of Tecno.
This is a step towards developing financial technology in Africa, which is the biggest market for Tecno. Other opportunities for developing fintech in the continent will be discussed at the dx5 Fintech Summit.