Tanzania has tightened its currency controls with new regulations on foreign exchange bureaus, in what authorities say is an ongoing fight against money laundering and currency speculation. The new rules, published Monday by the central bank, come months after the government revoked the licences of around 100 bureaus and temporarily shut a newspaper for using
Tanzania’s ClickPesa is entering into a partnership with Dutch Payment facilitator Ai2. The partnership provides farmers in the agriculture and horticulture industry in Tanzania a quicker and cheaper way to receive payments from buyers in Western Europe. The partnership will create substantial value for farmers based in Tanzania enabling them to collect payments directly from
UnionPay International recently announced that the achievement in partnership in acquiring, issuing, and mobile payment with National Microfinance Bank (NMB), one of the largest commercial bank in Tanzania. It is expected that by the end of 2019, the acceptance rate of UnionPay cards will reach 90% in Tanzania. Cai Jianbo, CEO of UnionPay International, and
The Bank has launched its digital services in Tanzania and Ghana following successful roll-outs in Côte d’Ivoire and Uganda. Standard Chartered has announced it has completed a simultaneous multi-market launch of its digitally-led retail banks in Tanzania and Ghana, with Kenya’s roll out scheduled to occur shortly. This follows the launches of the Bank’s digital offering
Leading innovators in mobile applications, products and services, including banking in Tanzania, Selcom, in collaboration with Business Connexion (BCX), has launched a new platform that will revolutionize the Tanzanian financial industry. Dubbed “Qwiksend”, the service will allow customers to make interbank fund transfers, in real-time, through the various digital access channels that are available to
This is the last of a three-part series on the importance of interoperability in the payments space. In the first article we looked at the early history of electronic payments and how interoperability played a key role in the success of credit cards and ATMs. In the previous article we will take a closer look
Global mobile payments company, DOCOMO Digital has partnered with Vodacom in Tanzania to give customers the option to pay for content on the Google Play Store using “Vodacom Airtime” carrier billing. The integration, which is powered by DOCOMO Digital’s mobile payments platform, allows Vodacom Tanzania customers to pay for content and products from the Google
Mastercard has partnered with market leader Vodacom and BancABC to introduce the first online card in Tanzania – the M-Pesa virtual card. “Vodacom’s M-Pesa is already an industry trailblazer with over 8.2 million subscribers and over 100,000 agents countrywide that enable citizens to transact safely and easily, but customers are limited when it comes to
Visa Inc., the global leader in payments, has announced a strategic partnership with Maxcom Africa PLC – a merchant aggregator also known as Maxmalipo – that will enable more than 30,000 retailers in Tanzania to accept Visa on mobile payments, as well as 20,000 local agents to conduct cash deposits and withdrawals. This effort aims
Mastercard has partnered with Selcom to enable local businesses and merchants to accept interoperable digital payments, many for the first time. Consumers are now able to make quick, easy and secure payments with their mobile money wallets or banking apps at Puma Retail Stations across Dar es Salaam. The payment solution will soon be launched
