Tanzania’s network of Automatic Teller Machines (ATMs) and Mobile Banking, the ‘Umoja Switch,’ has just gone regional; spreading its digital transactions’ tentacles into three neighbouring countries of Kenya, Rwanda and Uganda. With more than eight years of operation in the country ‘Umoja Switch,’ according to its Executive, Mr Danford Mbilinyi, is also rapidly expanding and
Tigo announced the first of its regular quarterly payments worth 3bn/- (US $ 1.8 million) to Tigo Pesa users. This payment comes three months after the company paid a staggering profit of TZS 14.25 billion (US $ 8.64 million) accumulated in the Tigo Pesa Trust Account to become the first mobile money service in the
Ericsson announced that MTN Uganda has deployed the Ericsson Converged Wallet platform, enabling the operator to quickly introduce relevant, new and differentiated mobile financial services offerings for seven million MTN Uganda mobile wallet users and 50,000 agents. MTN Uganda is part of MTN Group, a multinational telecommunications group, connecting approximately 219 million people in 22
IN a move to fight cyber crime and protect citizens from falling prey to cyber criminals, the government will next year table in Parliament three bills whose aim is to ensure protect electronic transactions and personal data information as well as ensure security. The Deputy Minister for Communication, Science and Technology, Mr January Makamba named
Tanzania is the first country in Sub-Saharan Africa and ninth globally for demonstrating most conducive environments for financial inclusion, according to the new Global Microscope 2014 by The Economist Intelligence Unit. The new study released this month shows the country has been outstanding in the region in financial inclusion and the regulatory framework has noted to
Safaricom has announced the launch of M-Ledger, an Android based application that provides subscribers on the company’s network with a simple and easy to use financial journal to track and monitor their M-PESA transactions. Developed in partnership with a local start-up Dynamic Data Systems, the partnership is the first in an anticipated series of partnerships
EXIM Bank Tanzania has continued to widen its reach to customers in Tanzania by opening a new branch on Lumumba Street in Dar es Salaam, a move that aims at extending its reach. The Ushirika branch adds up to the firm’s network which continue to spread across the country. Speaking during an inauguration ceremony, the
Recently I’ve seen a number of articles saying the same thing we’ve been experiencing at Kopo Kopo in the past couple of years. Mobile payment acceptance alone is not enough. By that, I mean that most merchants that we work with in East Africa have adopted digitized payments somewhat reluctantly, and only when they saw
Dynamic Currency Conversion (DCC) sometimes referred to as Cardholder Preferred Currency (CPC) has been around for sometime, but there is a good deal of misunderstanding, hype, misinformation, opinion and mystery around its benefits and its detriments. DCC is a service that allows credit card holders to pay for goods and services internationally with their local
Mahindra Comviva, the global leader in providing mobility solutions, announced that it has enabled the world’s first domestic interoperable mobile financial service between Airtel Money and Tigo Pesa in Tanzania. The service allows customers to send and receive money directly between the mobile money accounts of these two service providers. The new service made the
