It is not so often that a start-up company comes in to challenge a technology that is yet to garner popularity, in a developing country at that. Quick Tap is turning the tables all around with a brave motive of becoming a leading provider of cashless payment solutions in Uganda.
As we strive to create a cashless society, Quick Tap does employ Near Field Communication (NFC) and Radio Frequency Identification (RFID) technologies to deliver secure, easy, fast and efficient payments and access control services. These technologies are an emerging solution to making payment for goods and services using cash, in a much secure and convenient way.
Quick Tap is primarily focused on four main sectors; public transport, live events (musical and sporting), parking and live stock management. They install NFC tap to pay terminals at the client premises which users with NFC devices such as phones, cards, wristbands, and stickers can tap to make payment or access premises.
Why cashless payments?
Awed by the lack of solutions to the problems we all face on a daily, Quicktap sought to harness a simple, powerful and yet readily available technology in the form of NFC and RFID. The application of these technologies is far reaching and that is a reason for their motto “Endless Possibilities”.
Who are the customers?
The nature of the technology gives Quick Tap the flexibility to have customers ranging from events goers to a multinational company looking to track stock in warehouses. They therefore do not have a well defined target market per se. Quick Tap looks to partner up with businesses in different sectors such as the transportation sector, offering hardware and software installation and normally charging a commission of the fees charged to the end user.
How is business conducted?
The company operates across all industries based on 3 models namely; Cashless Payments, Access Control and Ticketing .
Quick Tap is barely one year old but have done a couple of events and partners ranging from Blankets and Wine to Pioneer Easy Bus to Uganda Coupon Book. There is also an upcoming cashless event in the Bora Bora Fest 17 on October 8th, and Quick Tap is fully associated.
The Challenges faced
Being a Start-Up, Quick Tap has faced the challenge of acceptability on the market owing to the type and cost of technology dealt in. The technology dealt with is yet to be accommodated by the majority public and not everyone is comfortable with cash off themselves.
There is also stiff competition from already established companies that have a low cost of production.