According to the 2014–2016 Tanzania National Financial Inclusion Framework the level of formal financial access in the rural areas of Tanzania is 8.5% compared to 23% in the urban areas and totally excluded rural population is 60% compared to 45% in urban areas. The ninth edition of the Tanzania Economic Update highlighted the country’s extraordinary
Data from SWIFT shows that FIN traffic growth in East Africa has outperformed the total growth of SWIFT globally. In the year to date, total message traffic volumes grew by 20.1% versus 8.2% growth for SWIFT worldwide. This clearly illustrates the increasingly important role that East Africa plays in SWIFT’s global business. Data also shows
Direct Pay Online Group (DPO) is the first payment service provider (PSP) in Africa to receive the Payment Card Industry Data Security Standard (PCI DSS) Level 1 certification in 12 African countries. This comes after the successful completion of comprehensive audits in the Group’s global headquarters and all its other markets which include Kenya, Tanzania,
TerraPay, the world’s first mobile payments switch and Instant Cash, one of the fastest growing money transfer companies in the world, have teamed up to enable real-time cross border money transfers to mobile wallets. Powered by TerraPay’s global clearing and settlement service for mobile wallets, the partnership will make cross-border money transfer faster and convenient
Sub-Saharan Africa accounts for more than half of all mobile money deployments worldwide and is pioneering a range of new mobile money use cases, according to new GSMA data. The latest ‘State of Mobile Money in Sub-Saharan Africa’ presentation, made available by the GSMA in Tanzania this week, reveals that the number of live mobile
Leading digital money transfer service WorldRemit and Huawei have announced a partnership making WorldRemit’s international money transfer service available to all partners of Huawei’s mobile money service platform across Africa. The partnership, which was announced at the GSMA’s Mobile 360 conference in Dar es Salaam, enables Huawei to add a ready-made solution for remittances –
Barclays Bank Tanzania has today officially launched UnionPay International Acquiring service as part of the bank’s effort to offer better convenience to the UnionPay cardholders in the market. The Bank’s Managing Director, Abdi Mohamed said in Dar es Salaam yesterday that the bank has introduced the service in the market that will allow the UnionPay
Digital money transfer service WorldRemit is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad. WorldRemit is announcing: • A new record of 10,000 unique transactions completed in the month of December 2016 alone; • 150% YoY growth in 2016, driven
Digital money transfer service WorldRemit is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad. WorldRemit is announcing: • A new record of 10,000 unique transactions completed in the month of December 2016 alone; • 150% YoY growth in 2016, driven
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