NMB BANK BECOMES THE FIRST IN TANZANIA TO LAUNCH WEARABLE PAYMENTS

Dar es Salaam — NMB Bank Plc has set a new benchmark in Tanzania’s digital finance landscape with the launch of NMB-Tap Wearables, the country’s first tokenised wearable payment solution.

The innovation marks a significant milestone in the modernisation of Tanzania’s national payment ecosystem and reinforces NMB Bank’s role as a key driver of secure, convenient and inclusive cashless payment solutions, in line with the government’s digital transformation agenda.

Speaking during the official launch held in Dar es Salaam, NMB’s Chief of Retail Banking, Mr Filbert Mponzi, described the introduction of NMB-Tap Wearables as a landmark moment in the country’s transition towards a digitally enabled economy.

He said the solution further strengthens NMB Bank’s position as a pioneer in cashless innovation and a national leader in delivering world-class financial services, while expanding access to modern payment tools across diverse customer segments.

According to Mr Mponzi, NMB-Tap Wearables form part of the bank’s broader strategic agenda to revolutionise retail payments in Tanzania by combining cutting-edge technology with customer-centric design—ultimately supporting financial inclusion and accelerating the growth of the digital economy.

“This is a world-class innovation and a clear affirmation of our leadership in setting banking standards in the country. It reflects NMB Bank’s preparedness to continuously innovate and transform financial services, ensuring our customers benefit from secure, modern and globally competitive solutions,” Mr Mponzi said.

 

Powered by Mastercard Technology

Unveiled in partnership with global payments leader Mastercard, NMB-Tap enables customers to make fast, secure and cash-free payments using everyday wearable items such as rings, bracelets and payment stickers.

With a simple tap, users can transact seamlessly at supermarkets, fuel stations, hotels, restaurants and all Mastercard contactless-enabled point-of-sale terminals nationwide.

The solution is designed for tech-savvy customers as well as individuals seeking greater convenience, eliminating the need to carry cash, wallets or even mobile phones.

Enhanced Security Through Tokenisation

Commenting on the technical and security features, Mr Mponzi explained that NMB-Tap Wearables are securely linked to customers’ existing debit or credit cards through tokenisation technology. This ensures sensitive card details are neither stored on the wearable device nor exposed during transactions—significantly enhancing payment security.

“NMB-Tap is about empowering Tanzanians with smarter, safer and more convenient ways to transact that align perfectly with modern lifestyles. As pioneers of wearable payments in Tanzania, we are removing barriers to digital adoption while delivering unmatched speed, simplicity and security,” he added.

Redefining the Future of Payments

NMB’s Director of Investor Relations, Sustainability and Communications, Mr Innocent Yonazi, noted that the innovation goes beyond the introduction of a new product, describing it as a transformative step towards a truly customer-centric digital payments ecosystem.

He said NMB-Tap represents a strategic intervention in reshaping the future of payments in Tanzania by redefining convenience, speed and accessibility in banking services.

“Through our partnership with Mastercard, NMB-Tap introduces a payment experience that has never existed before in Tanzania, fundamentally transforming how transactions are made and setting a new benchmark for future banking in the country,” Mr Yonazi said.

Mastercard Applauds Digital Payments Growth

On his part, Mr Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, highlighted the rapid adoption of digital and contactless payments in Tanzania as a clear indicator of growing consumer demand for secure and efficient transaction methods.

He said NMB-Tap leverages some of the most advanced tokenisation technology available globally, reaffirming Mastercard’s commitment to delivering innovative and secure payment solutions through its strategic partnership with NMB Bank.

“Tokenisation technology powers NMB-Tap by substituting sensitive card payment information with a unique encrypted token safely stored on the wearable device. This ensures cardholder data is never exposed during transactions, significantly enhancing payment security while maintaining speed and convenience,” he said.