Wema Bank has unveiled Tap and Pay, a new contactless money transfer feature on its digital banking platform, ALAT: The Evolution, as part of its ongoing push to simplify everyday financial transactions and expand the use of digital payments in Nigeria.
The new feature allows ALAT users to send and receive money instantly by tapping compatible smartphones together, eliminating the need to manually input account numbers or navigate through multiple in-app screens. By leveraging Near Field Communication (NFC) technology, Tap and Pay is designed to make peer-to-peer transfers faster, more intuitive, and better suited to the pace of daily transactions.
Tap and Pay is currently available to all ALAT users and supports transfers exclusively between ALAT accounts. To use the feature, customers are required to download or update the ALAT app via the Google Play Store or Apple App Store and log in with their existing credentials. Once logged in, the Tap and Pay option can be accessed through the Contactless widget on the app’s home screen.
For a transaction to take place, both the sender and recipient must have NFC enabled on their smartphones and maintain an active internet connection. The transfer process itself is straightforward: users select whether they want to send or receive money, tap their phones together, confirm the transaction details, and complete the transfer within seconds. According to the bank, funds are credited instantly, offering a seamless experience that mirrors the speed and simplicity of contactless card payments.
Wema Bank says the feature is aimed at addressing common friction points in digital transfers, particularly in situations where users need to move money quickly but may not have account details readily available. By removing these steps, Tap and Pay is positioned as a practical solution for everyday scenarios such as splitting bills, making quick reimbursements, or sending money in social and informal settings.
Security, the bank notes, remains a core component of the new offering. All Tap and Pay transactions are protected by Wema Bank’s existing security architecture, which includes encryption, authentication protocols, and real-time monitoring. The bank emphasised that the contactless nature of the feature does not compromise user safety, as transactions still require in-app authorisation before completion.
The launch of Tap and Pay comes at a time when Nigeria’s financial services sector is seeing increased adoption of contactless and mobile-first payment solutions. While QR codes and USSD-based transfers have gained traction, NFC-enabled payments and transfers remain relatively underutilised in the market. Wema Bank’s move signals a growing interest among banks to explore more frictionless payment experiences as smartphone capabilities and user familiarity with contactless technology continue to improve.
ALAT, which was introduced in 2017 as Nigeria’s first fully digital bank, has long served as Wema Bank’s innovation sandbox. Over the years, the platform has been used to pilot new features ranging from instant account opening and virtual cards to lifestyle-focused financial tools. Tap and Pay continues this trend, reinforcing ALAT’s role as a testing ground for emerging payment technologies before wider adoption.
For Wema Bank, the introduction of contactless transfers also aligns with broader industry efforts to support Nigeria’s cashless policy and reduce reliance on physical cash. As more consumers become comfortable with digital payments, banks are under pressure to deliver experiences that are not only secure but also fast and intuitive.
By enabling phone-to-phone transfers through a simple tap, Wema Bank is betting on convenience as a key driver of adoption. While the feature is currently limited to ALAT users, its rollout could pave the way for broader interoperability in the future as contactless infrastructure matures across the banking ecosystem.
With Tap and Pay, Wema Bank adds another layer to ALAT’s evolving feature set, positioning the platform as a hub for modern digital banking experiences and signaling its intent to remain competitive in an increasingly innovation-driven financial services landscape.
