TAP's Cowry Platform Processes N3 Billion Monthly in Lagos

Afolabi Olamide, co-founder and chief executive officer of Touch and Pay Technologies (TAP), revealed that the Cowry digital payment platform processes an average of N3 billion in public transport fare revenue monthly in Lagos. This figure represents a 60% increase compared to two years ago, driven by rising transaction volumes and fare adjustments.

Cowry facilitates fare payments on regulated buses and the Blue and Red rail lines, capturing transaction data across the network. Currently, Cowry processes over 500,000 passenger trips daily and serves an average of 2 million unique commuters, with active users making Cowry-paid trips at least twice a week.

The Blue Line has seen the fastest growth, with passenger volumes increasing by over 170% in the last two years. TAP's records indicate consistently high passenger demand across major bus corridors, including Ikorodu, Oshodi, Obalende/TBS, and Abule-Egba.