Monday
September 19
2016

Tanzania Becomes 1st Globally Achieving Full Mobile Money Interoperability

The interoperability means mobile phone subscribers transfer money across multiple networks thus enabling the country becoming first in the area. Bank of Tanzania Governor Prof Benno Ndulu said today that mobile phone active account represents 21.9million out of 62.8million accounts registered by five major tele-financial service providers.

“We are seeing increased number of transaction since then with reduced costs as a result of sharing infrastructure in the industry,” Prof Ndulu told financial inclusion meeting in Dar es Salaam. He said nearly 50 per cent of digital financial services registered accounts are active.

Source: Daily News (link opens in a new window)

Categories
Technology
Tags
fintech, mobile money