TIGO PESA AND VISA PARTNER TO ENABLE TANZANIAN CONSUMERS MOVE FUNDS QUICKLY AND SECURELY THROUGH VISA DIRECT

The Chief Officer, Mobile Financial Services -Tigo Pesa, Angelica Pesha (right) briefs the press on the launch of the partnership between VISA and Tigo Pesa, whereby Tigo Pesa customers can now transfer funds from their bank accounts to their Tigo Pesa wallets. She is flanked by the Head of Financial Services & Payments - Tigo Pesa, Mshamma Mshamma. The event was held in Dar es Salaam recently.

9 million Tigo Pesa customers now able to move funds quickly and securely from their Visa card to their Tigo Pesa wallets using Visa Direct capabilities

DAR ES SALAAM – Tanzania’s leading digital lifestyle company, Tigo has announced a partnership with Visa Inc. that will extend real-time access to funds for consumers from their bank account to Tigo Pesa wallets, leveraging Visa Direct, for payment capabilities that enable fast domestic and cross-border digital payments.

Powered by Tigo’s partner Business Connexion Tanzania Ltd (BCX), this service enables over 9 million customers to use the Mobile Financial Service, Tigo Pesa to transfer money from their Visa Bank Accounts to their Tigo Pesa mobile money wallets quickly and securely.

Tigo customers can now link their Visa card using their smartphones on Tigo Pesa APP or via Tigo Pesa USSD menu *150*01#, Once the card is linked, the card information is safely and securely stored. For subsequent transactions, customers will be able to move funds instantly, within the Tigo Pesa APP or Tigo Pesa menu *150*01#, from their linked Visa card(s) directly into Tigo Pesa wallets.

“This gives our customers the added convenience that enables them to move money quickly from Bank to wallet, promoting cashless transactions by reducing the need to either go to the ATM and withdraw funds to reload their Tigo Pesa Wallets or using separate APPs or services to move money. This now can be done directly within the Tigo Pesa system products through either App or USSD and enjoy our transformational digital lifestyle services through Tanzania’s biggest and fastest 4G network, Another, 1st in Tanzania and 1st from Tigo Pesa” Tigo’s Chief Officer for Mobile Financial Services, Angelica Pesha said in Dar es Salaam recently.

This partnership further cements our position as a provider of choice for mobile financial services in Tanzania and we believe this venture will increase our customers' trust, the number of transactions and open more partnerships in future. ‘Tigo is at the helm of digital lifestyle transformation, with Tigo Pesa leading the innovation in mobile financial services by being the first mobile money wallet in Tanzania to enable Visa Card fund transfer to Wallet. This proves that Tigo Pesa is a fully-fledged mobile financial service offering customers more and better digital payment solutions,’ Pesha added.

“Whether sending money to a family member in another country or obtaining same-day access to funds, fast and secure digital payments have become an essential part of how the world pays and gets paid especially now, in the wake of COVID-19. Our collaboration seamlessly combines Visa’s global network and Tigo’s mobile money networkto empower Tigo customers to benefit from the convenience, security and reliability of the Visa brand that is enjoyed by over 3 billion customers worldwide,” said Corine Mbiaketcha, Visa’s Vice President and General Manager for East Africa.

While the global pandemic has dramatically accelerated the shift to digital, we see this move to digital as a long-term change that will outlast the pandemic. In Tanzania, we are seeing more people preferring to pay digitally for goods and services, Tigo has now empowered them to seamlessly fund their Tigo Pesa wallet and enjoy their digital lifestyle through Tigo Pesa.

About Tigo Tanzania

Tigo Tanzania is Tanzania's leading digital lifestyle telecommunications company. Tigo started its operations in Tanzania in 1995. Through its distinctive and diverse product portfolio in voice, SMS, high-speed internet and mobile financial services, Tigo has pioneered digital innovations such as the first Smartphone in Swahili, Free Facebook in Swahili, Tigo Pesa App, Tigo Mobile App as well as the first East African cross-border mobile money transfer with currency conversion.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

Media Contacts:

Tigo Tanzania

Website: www.tigo.co.tz or contact:

Woinde Shisael – Corporate Communications Manager

Mobile: +255 713 123 431. Woinde.shisael@tigo.co.tz

Visa

Emily Kaiga

ekaigaad@visa.com