The digital financial inclusion development is yet another major milestone in national efforts to modernise the country’s payment ecosystem as Tanzania progressively readies to become a digital economy and less cash society.
NMB’s Chief of Retail Banking, Mr Filbert Mponzi, said the partnership with UPI means a lot in their aspiration to modernise and promote digital payments in the country.
According to him, the collaboration once again demonstrates the commitment of the two organisations to champion a cashless society, which is served by a highly digitalised economy.
On his part, the General Manager of UPI Africa Branch, Mr Asad Burney, said apart from advancing inclusive finance, the partnership also increases the footprint of UnionPay cards acceptance on NMB’s digital payments platforms.
“NMB Bank has played a key role and continues to be instrumental in supporting the modernization of the payment solutions in the country,” Mr Mponzi noted in his remarks prior to the unveiling of the third UnionPay QR code in East Africa.
This is a monumental development in the country as the whole world increasingly shifts from cash-dominated economies to digitally supported cashless societies, he stated.
“I therefore urge all Tanzania traders to leverage on this opportunity to enhance and simplify their business and payments operations. The NMB UPI QR codes can be accessed across all our branches or through our direct sales agents scattered across the entire country,” he pointed out.
The first partnership between NMB Bank and UPI came into being in 2020 leading to ATMs and POS of the top lender to accept payment cards of the subsidiary of China UnionPay, which has card acceptance in 180 countries and regions globally.
Mr Mponzi said the new deal, which offers customers an unparalleled payment experience enables UPI account holders worldwide to conveniently and securely pay through their mobile phones or by simply scanning at over 147,324 NMB merchant locations in Tanzania.
He added that as the most innovative local bank and champion of digital finance in the country, NMB Bank strongly believes in the pivotal role of QR codes as an important payments instrument and a low-cost enabler of payment digitalization.
Explaining, he said the ultramodern bar-codes have the potential to modernize the national economy by deepening digital and financial inclusion, which he emphasized that are strategically vital in accelerating Tanzania’s transition towards becoming a cashless society.
“With this strategic partnership, we are expanding our portfolio with the addition of a consumer-centric and user-friendly payment method. Being the leading innovative bank in the country, NMB now becomes the first bank to accept UPI QR code payment in Tanzania and the third bank in East Africa to do so,” Mr Mponzi stated.
The function to promulgate the new digital payment service was graced by the Permanent Secretary in the Ministry of Foreign Affairs and East African Cooperation, Ambassador Samuel Shelukindo, who lauded NMB Bank for the digital finance investment.
According to him, the launch of the NMB UnionPay QR Code payment solution was another major step towards realization of the dream to modernize and make Tanzania a less cash economy and satisfy the increasing appetite for digital financial solutions in the country.
Commenting on the development, the Managing Director of Tanzania Tourism Board, Mr Damasi Mfugale, said the service increases Tanzania’s competitiveness in the lucrative Chinese tourism market.
“Today we are witnessing a major digital payment innovation in Tanzania’s payment industry, which cements our position as the most innovative bank in the country,” the head of NMB’s card business, Mr Philbert Casmir, noted.
No comments:
Post a Comment