Smart Banking Solutions Limited (SBS) has introduced the first prepaid bank grade closed loop card of its kind in Tanzanian market, named B-PESA. Speaking shortly before unveiling the B-PESA card at a ceremony held in Dar es Salaam on Wednesday, the SBS Managing Director Mr Gustav Vermaas said the card allows a customer to transact
The 2013 Billing Household Survey from Fiserv, a provider of financial services technology solutions, has found consumers are paying their bills in more ways than ever before, with the number of consumers paying bills from smartphones and tablets growing significantly. Gen Y in particular prefers a variety of channels and immediate payment options, and uses
Barclays Bank of Kenya has unveiled a new cardless money transfer service that allows customers to send and receive money at any Barclays ATM. The service, named “CashSend”, will allow Barclays Bank of Kenya account holders to securely transfer money to mobile phone subscribers. Transactions will originate from Barclays ATMs, with recipients similarly withdrawing their
Robert Diamond is planning to return to the business of banking through a large investment into the banking sector in Africa. Diamond, who left his position as CEO of Barclays last year after a rate-fixing scandal, is looking to raise $250 million to invest in African banking through a corporate shell known as Atlas Mara,
Bank of Tanzania (BoT) is out to hook ‘unbankable’ population to the financial services at affordable costs at a time when penetration is around 14 per cent. The BoT and financial inclusion stakeholders will launch a National Financial Inclusion Framework on Thursday, an occasion expected to be graced by Queen Máxima of the Netherlands and
A new publication, Financial Inclusion in Africa, by the Complex of the Chief Economist of the African Development Bank (AfDB) finds that for sustained and inclusive development to thrive, a great deal of innovation is needed to ensure that appropriate financial services and instruments are put in place for the benefit of the poor and
Airtel Networks Zambia Plc, a telecommunications service provider in Zambia, and the airline, Proflight Zambia, have signed a partnership agreement that will enable customers to purchase air tickets countrywide. Airtel customers will be able to pay for their Proflight Zambia air tickets using their “Airtel Money” accounts. This partnership is a reflection of the synergies
Equity Bank and American Express have announced a partnership agreement, through which Equity Bank will act as the exclusive issuer of American Express Card products in Kenya, Tanzania and Uganda. As part of this agreement, Equity Bank will also acquire merchants on to the American Express network in these countries. Equity Bank will begin issuing
With the increased availability of broadband access, more affordable data costs offered by mobile operators and the consistent development of mobile devices, online shopping is gaining great traction in Sub-Saharan Africa. Fatima Sullivan, Head of Retail at DHL Express Sub-Saharan Africa says that with the upcoming festive season fast approaching, consumers are increasingly choosing to
Tanzania is considering operating its bank payments system on Saturdays, allowing customers to transfer money around, with traders remaining confident that the move would not affect banks’ trading positions. The opening of real time gross settlements (RTGS) will allow banks’ customers to move money from one account to the next, a departure from the present
