FinTech Sector in Tanzania

Online platform for consumer loans. It offers multiple consumer loan products with various terms, amounts, and repayment options. Users must add the required details along with the documents and apply for the loan. Once approved, the funds are transferred to the registered bank account.

Virtual wallet for daily need payments to individuals. Provides money transfers through online banking, to buy airtime and bundles for voice, SMS, and data, recurring utility bill payments for electricity, TV subscriptions, government bills, QR-code-enabled payments, and more. Application is made available on Android and iOS platforms.

QR-based payment solution for consumers and businesses. It features an app-based payment acceptance solution, that allows consumers to make online payments for entertainment, tourism, stores/malls, restaurants, groceries, and others. It also enables customers to build credit scores by purchasing and paying for services via the Nilipe application. The app is available for both Android and IOS devices.

Selcom is a Tanzania Communications Regulatory Authority licensee and holds a National Application Services License. Selcom operates independent network of point-of-sale (POS) terminals with almost 7,000 terminals countrywide. They are also recognized by the Bank of Tanzania as a leading enabler of mobile banking and bill payment services for numerous banks. To date, Selcom claims to have connected more than 30 banks to mobile banking for core services.