NMB BANK PARTNERS WITH MASTERCARD TO FINANCIALLY INCLUDE BODABODA RIDERS IN DIGITAL PAYMENT SOLUTION

NMB Bank's Acting Managing Director, Ruth Zaipuna speaks to invited guests during the launch of MasterCard QR cashless payment solution for motorcycle transport operators known as 'bodaoda' in Dar es Salaam yesterday.

Dar es Salaam, Tanzania, 16 October 2019: NMB Bank Plc has partnered with Mastercard to launch a digital payment platform, the Mastercard QR Cashless Pay Solution, for the motorcycle transport operators famously known as 'bodaboda'.

Mastercard QR is a modern, secure and easy digital payment solution, which allows customers make payment by scanning a QR code or a merchant pay number using the USSD option on their mobile phone.

The Mastercard QR Cashless Pay Solution will not only make payment more convenient for bodaboda customers who can now use their feature or smartphones to pay their fares, but also enable the riders save and track their income as payments are made directly into their NMB Account.

Speaking at the launch, The Minister of State, Prime Minister’s Office responsible for Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled, Jenista Mhagama said the bank’s move will help to formalize the Bodaboda business.

“What you are doing today, has the government’s go ahead as it will help especially the youth to take their job seriously and develop themselves while making a positive contribution to the country’s economy,” said Ms Mhagama

On her part, NMB Bank’s Acting Managing Director, Ruth Zaipuna said the move aims at helping boda-boda riders enjoy banking services while enhancing the safety of their money as well as their own security.

The service will first be launched in Dar es Salaam and then rolled out in Mwanza, Arusha, Ruvuma, Dodoma and Mbeya in the coming weeks.

This payment solution, Mastercard QR, will assist bodaboda riders in growing their business whilst reducing the cost and risks of handling cash. It will also allow bodaboda riders to be in complete control of their payments thereby increasing efficiencies in payment.

For NMB, digitization of Bodaboda payments is a key component of NMB’s drive to enhance financial inclusion among the communities and customers. With Mastercard QR, we are providing an efficient means for Bodaboda riders to receive payments from all MNOs and commercial banks customers that are Mastercard QR enabled. We all understand the obvious security risks that come with handling cash,” said Zaipuna.

Area Business Head for Tanzania and East Africa, Mastercard, Frank Molla said the platform offers convenient, secure and hassle free rider – passenger experience through our cashless proposition.

Mr Molla further said “Mastercard is always working with partners to provide solutions that enable consumers enjoy seamless access to payments and a superior experience. We are proud to have partnered with NMB in leveraging our technology to launch Mastercard QR in this integral aspect of the transport sector. With a significant number of people using bodabodas daily, introducing a seamless cashless solution to the riders provides substantial impact on driving inclusive growth as well as building a digital economy.”

The free mobile payment solution is expected to accelerate safe digital payments and financial inclusion among bodaboda riders. NMB planning to reach over 75,000 in one year alone and plan to reach at least two million Boda Boda drivers in few years.

Over 1,000 bodaboda riders have been trained so far on the use of the Instant QR payment on mobile highlighting its simplicity, convenience and other benefits.

To pay for a bodaboda ride, the passenger simply scans a QR code on NMB mkononi app and can also pay with a feature phone by dialing *150*66# to access the NMB Mobile menu, selects payment services and selects Mastercard QR.

About NMB

NMB Bank Plc. (“NMB”) is a full service commercial bank incorporated in the United Republic of Tanzania. Through its 4 main business divisions: Retail, Wholesale, Agribusiness and Treasury, NMB provides a suite of financial services and products to retail customers, farmers, SMEs, Corporates, Institutions and the Government.

The bank has 229 branches, over 6000 agents ‘Wakala’ and more than 800 ATMs across the country and is represented in all districts of Tanzania. NMB has over 3 million customers and employs over 3,000 staff. It is listed at the Dar Es Salaam Stock Exchange and its largest shareholders are the strategic partners Rabobank with a 34.9% share and the Government of Tanzania with a 31.9% share.

Euromoney awards for excellence selected NMB as the “Best Bank in Tanzania” for 7 years in a row from 2013-2018. Rewarded an award for Best Blended Finance partner in Africa for banks working with International Finance Corporation (IFC) of the World Bank Group and Best Retail and Best Commercial Bank in Tanzania by the Banker East Africa Magazine. For more information about NMB and its services, please visit our website: www.nmbbank.co.tz

For more information, contact:

Rahma Mwapachu, 

NMB Bank Plc, 

Ag. Head of Corporate Communications.
Email: Rahma.Mwapachu@nmbtz.com

About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews and at @MastercardMEA join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Mastercard Communications Contact
Toju Egbebi, Communications Lead for Sub-Saharan Africa.
Email: toju.egbebi@Mastercard.com