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Edward Balandya (third left), Head of Digital & E-commerce at Stanbic Bank Tanzania, and Dickson Senzi (second left), Senior Manager for External Affairs, Communication and Reputation, engage a merchant in Mwenge during an on-ground activation. They demonstrated how to receive payments through LIPA SIMPO, highlighting the speed, security, and affordability of Stanbic’s digital payment solutions for local businesses.
Tuesday, 24 February 2026 | Dar es Salaam, Tanzania |
At the heart of this push is Lipa Simpo, the bank’s QR-based merchant payment solution, now supported by a growing nationwide network of more than 700 merchants. The initiative reflects Stanbic’s deliberate strategy to move digital payments from theory to everyday practice — making wallet-to-merchant transactions simpler, more affordable and widely accessible across communities.
Tanzania’s Digital Momentum
Tanzania’s digital payments ecosystem continues to register sustained double-digit growth. According to data from the Bank of Tanzania, millions of electronic transactions are processed monthly, with transaction values running into trillions of shillings annually.
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Financial inclusion has also expanded significantly over the past decade. Data from the 2023 FinScope Survey shows inclusion levels rising from approximately 16 percent in 2009 to over 76 percent — growth largely driven by mobile money platforms, digital banking solutions and agent banking expansion.
Stanbic’s latest activation campaign builds directly on this national momentum.
Taking Digital Payments to the Streets
Rather than relying solely on digital marketing, Stanbic has rolled out targeted, on-the-ground activations across high-traffic merchant locations in Dar es Salaam and other regions. These engagements provide live demonstrations of Lipa Simpo in action, allowing customers and merchants to experience real-time QR-based payments.
The campaign also serves as a feedback loop — enabling the bank to gather insights from both transacting customers and merchants receiving payments. This hands-on approach ensures that product refinement is guided by practical usage patterns and real market needs.
Pricing Innovation to Accelerate Behaviour Change
To further encourage adoption, Stanbic has introduced a temporary pricing optimisation strategy running through April 2026.
Under this initiative, Lipa Simpo transactions above TZS 40,000 will attract a flat fee of TZS 1,000 during the campaign period.
The objective is clear:
- Encourage trial among new users
- Promote repeat usage
- Support a stronger shift from account-to-wallet transfers toward wallet-to-merchant payments
By addressing cost sensitivities — often cited as a barrier to digital adoption among SMEs and retail consumers — the bank is strategically nudging behavioural change at scale.
Aligning with the National Financial Inclusion Agenda
Speaking during an activation event in Mwenge, Dar es Salaam, Edward Balandya, Head of Digital Banking & eCommerce at Stanbic Bank Tanzania, noted that the bank’s strategy is closely aligned with Tanzania’s cashless ambitions and the National Financial Inclusion Framework (2023–2028).
He emphasized that electronic transactions continue to grow year-on-year and that the national development trajectory under Vision 2050 calls for a modern, efficient and inclusive economy.
Stanbic’s response, he noted, is deliberate investment in digital-first solutions that reduce reliance on cash while improving transaction traceability and efficiency.
Strengthening SMEs Through Digital Transparency
Also speaking at the activation, Dickson Senzi, Senior Manager for External Affairs, Communication and Reputation at Stanbic Bank Tanzania, highlighted the broader economic benefits of reducing cash dependency.
Lower reliance on physical cash:
- Improves transparency
- Reduces operational and security risks
- Strengthens record-keeping for small and medium-sized enterprises
Given that SMEs form the backbone of Tanzania’s economy, expanding access to secure and affordable digital payments has far-reaching implications for business growth, credit profiling and formalisation.
“Our activations are not symbolic. They are practical demonstrations of how digital payments work in everyday economic activity,” he noted. “Payments now happen in the palm of your hand through secure digital platforms, and as a bank, we must align with that reality.”
Positioning for Vision 2050
By combining:
- Expanded agent banking coverage
- QR-based merchant payment infrastructure
- Targeted pricing incentives
- Nationwide merchant activations
Stanbic Bank Tanzania is positioning itself at the forefront of the country’s digital financial transformation.
As Tanzania advances toward its Vision 2050 ambitions, collaboration between regulators, financial institutions and the private sector remains critical. Through its merchant-focused strategy and community-level digital engagement, Stanbic is not merely participating in the cashless agenda — it is actively shaping its practical implementation.
About Stanbic Bank Tanzania
Stanbic Bank Tanzania is a leading provider of financial services, offering a wide range of banking solutions to individuals, businesses and institutions. With a focus on sustainable investment and strategic partnerships, the bank plays a key role in supporting Tanzania’s economic development and regional integration.
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