By Carlos Claudio, Dar es Salaam.
The Bank of Tanzania (BoT) has reaffirmed its commitment to strengthening the country's national payment systems to improve transaction security, reduce payment costs, promote financial inclusion, and expand access to financial services, particularly in rural areas.
Speaking to journalists during the ongoing 50th Dar es Salaam International Trade Fair (DITF), the Bank's Senior National Payment Systems Analyst, Doto Namkaa, said BoT continues to modernize payment infrastructure to ensure fast, secure, and efficient financial transactions across the country.
Namkaa explained that as the country's national payment systems regulator, BoT oversees several payment platforms, including the Tanzania Interbank Settlement System (TISS) for large-value transactions and retail payment systems that connect banks, financial institutions, and mobile money service providers.
He said the systems facilitate government salary payments, interbank fund transfers, and mobile money transactions safely and efficiently.
Highlighting recent achievements, Namkaa said the 2025 BoT Annual Report shows that the number of financial service agents increased by 34 percent to approximately 94,000, significantly improving access to financial services, especially in rural communities.
He also noted that the number of merchants accepting digital payments has grown by more than 80 percent, driven by the adoption of the Tanzania QR (TANQR) payment system, which enables businesses to receive mobile payments conveniently and at lower costs.
"Today, Tanzania has millions of mobile financial service users, demonstrating that digital financial services are reaching more citizens and contributing to greater financial inclusion," he said.
Despite the progress, Namkaa acknowledged that challenges remain, including public concerns over transaction costs and the growing threat of digital financial fraud.
He said BoT has introduced measures to make payment services more affordable by regulating transaction charges, reducing fees for low-value transactions, and setting caps on certain service charges to protect consumers.
To combat financial fraud, Namkaa said the central bank has strengthened its systems by adopting the internationally recognized ISO 20022 security standard, enabling early detection of suspicious transactions and helping prevent financial crimes.
He added that BoT also conducts regular inspections of payment service providers, monitors transaction reports daily, and ensures all financial institutions comply with national laws and payment system security regulations.
"Public awareness is a critical part of fighting financial fraud. We advise citizens never to share their PINs, always verify recipient details before sending money, and immediately report any suspected fraud to their service provider or the Bank of Tanzania," he said.
Namkaa further said BoT continues to educate the public through trade exhibitions, social media platforms, and various financial literacy programs to promote the safe use of digital financial services.
He also revealed that Tanzania's achievements in payment systems have received international recognition.
In 2025, the country received the Financial Inclusion Innovation Award for its innovations in expanding financial inclusion, lowering transaction costs, and promoting the use of the TANQR payment platform.
According to Namkaa, Tanzania has become a benchmark for several African countries, including Kenya, Rwanda, Uganda, and Lesotho, whose delegations have visited the country to learn about Tanzania's successful payment system reforms.
He emphasized that BoT will continue working closely with stakeholders across the financial sector to ensure the country's payment systems remain secure, inclusive, affordable, and aligned with international standards for the benefit of citizens and the national economy.
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