Equity Bank has unveiled its EAZZY 24/7 mobile phone banking platform that allows customers to access banking services using their mobile phone in Tanzania. The service is accessible through Vodacom, Airtel, Tigo, and Zantel.
The platform allows customers to carry out various transactions such as airtime top-up, funds transfer, bill payment for DStv and to buy luku (which means to purchase pre-paid electricity coupons as well as check bank account balance.
Speaking during the launch, Joseph Iha, MD, Equity Bank Tanzania, said: "The introduction of the Eazzy 24/7 mobile banking platform, which allows customers to access their banking facilities through their mobile phones, will mean that users are able to transact anywhere, anytime conveniently. The fresh innovation that we have launched is in line with our commitment to make banking services accessible and affordable for our people."
The service is expected to bring in more people into the formal banking system.
"Taking banking services closer to the people has been a challenge for banks and Eazzy 24/7 will help reduce transaction costs and greatly improve the payment system," said Iha. "The mobile phone boom has laid down a strong base for low cost banking and the growth of mobile phone solutions in rural Tanzania shows that it can attract customers," added Iha.
The introduction of this service means that Equity Bank account holders can now credit and transfer cash into each other's account using their mobile phones in real time.