Tanzania: Bank Partners Bodaboda Riders With Mastercard QR Payments

NMB Bank Plc recently partnered Mastercard to launch a digital payment platform-Mastercard QR, a cashless pay solution to the motorcycle transport operators famously known as bodaboda.

Mastercard QR is a modern, secure and easy digital payment solution, which allows customers make payment by scanning a QR code or a merchant pay number using the USSD option on their mobile phone.

The Mastercard QR Cashless Pay Solution will not only make payment more convenient for bodaboda passengers, who can now use their feature or smartphones to pay their fares, but also enable the riders to save and track their income as payments would now be made directly into their NMB Account.

Speaking at the launch, the Minister of State, Prime Minister's Office responsible for Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled-Jenista Mhagama said the bank's move will help to formalize the bodaboda business that forms the major source of income to the youth.

"What you are doing today, has the government's go-ahead as it will help especially the youth to take their job seriously and develop themselves, while making a positive contribution to the country's economy," said the minister.

On his part, NMB Bank's Acting Managing Director- Filbert Mponzi said the move aims at helping the boda-boda riders to enjoy banking services, besides enhancing safety of their money as well as their own security.

The service will first be launched in Dar es Salaam and then rolled out in Mwanza, Arusha, Ruvuma, Dodoma and Mbeya in the coming weeks, before spreading to all parts of the country.

This payment solution, Mastercard QR, will assist the bodaboda riders to grow in their business and reduce costs and risks of handling cash.

It will also allow bodaboda riders to be in complete control of their payments, and increase efficiencies in payment.

For NMB, digitisation of Bodaboda payments is a key component of NMB's drive to enhance financial inclusion among the communities and customers.

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