Tanzania: Bank Urges Use of Digital Transfer to Stop Spread of Covid-19

AS Tanzania and the world are waging war to stop the spread of corona virus, a strong call has been made to banking customers make efficient use of digital payment solutions in a bid to reduce physical contact.

Last week some banks in the country made huge contributions to support the government efforts in the fight against the deadly corona virus in the country.

Alongside the donations, the financial institutions made a strong call to customers and the general public to comply with government directives aimed at containing the Covid-19.

To reduce the physical contact in banks branches as one of the strategy in stopping the spread of corona virus, customers and general public was urged to use digital payment solutions.

NMB bank as one of the institution that donated 100m/- to the government over the weekend to support the government efforts against the spread of Covid-19, appealed to general public to use its alternative digital solution to make various banking transactions.

Speaking after handing over a dummy cheque, the NMB Bank's Acting Managing Director, Ruth Zaipuna said the NMB customers and general public are encouraged to comply with government directives in order to stop the spread of corona virus.

"I advise my fellow Tanzanians, our customers and the public to seriously follow government directives and advice on how to protect themselves from corona virus including taking into account their hygiene and washing hands regularly and changing the way we great each other," she said.

She said the bank has positively responded by joining force with the government to battle against the Covid-19 for the safety and good health of Tanzanian people.

"As a bank we have decided to join hands with the government in the fight against the pandemic by contributing 100m/- to be used in the fight against coronavirus," Zaipuna said.

Chief Retail Banking at NMB Bank, Filbert Mponzi said the bank has enhanced some features in its NMB Mkononi platform to improve customers' experience as well as give alternative means of doing various banking transactions. "With NMB Mkononi, anyone can open an account instantly through a feature or smart phone.

They will be able to transfer money to mobile network operators up to 2m/-, transfer money from NMB account to other banks, pay bills for free, withdraw cash without an ATM card, and make payment of goods and services at Mastercard QR and Visa on mobile payment points," he said.

Customers can also be able to effect payment of different taxes through the Government electronic payment system where taxes and fees like customs duty, domestic revenue collection, Tamisemi, BRELA, Tanesco, TRA, police fines, digital passport fees (immigration) water utilities as well as TPA.

Recent developments in the smartphone have completely changed the transactions scenario and currently, mobile banking is a web-enabled solution offered with the help of mobile web.

In addition, mobile banking offers several beneficial services such as mobile wallets which enable financial transactions via mobiles with the POS.

Increasing adoption of smartphone, as well as growing technological advancements, is some of the majors contributing to the global mobile banking market growth.

NMB Mkononi is a game changer in the market as it allows anyone based anywhere at any time transact even if they are not NMB Bank customers.

The bank's mobile platform is aimed to ensure that all Tanzanians, from all walks of life can resonate with the mobile banking services and be able to access NMB's banking services easily in the palm of their hands.

Transparent and efficient mobile money services have significantly improved the financial lives and livelihoods of the unbanked and underserved.

NMB Bank is the only bank in the market that allows customers and non-customers to send money from NMB account to other banks without visiting branches.

Industry research and analysis provide concrete evidence of these positive impacts from being better able to weather financial shocks or sending money home to family more securely, to spending less time travelling to a bank or queuing to pay bills.

According to analysts, the increased access to financial services in the country should be reflected in the decreased poverty level otherwise the good statistics will have no use.

Better access to mobile banking fuels economic growth by raising national income through increased savings and investments for households and small and medium enterprises, injecting formal savings into the system, diversifying the capital base, and providing stability during downturns.

At the economic level, mobile money has helped governments to increase transparency and efficiency, contributed to greater agricultural productivity and entrepreneurial performance, helped to formalize the informal economy as well as contributing to a stronger banking sector.

More From: Daily News

Don't Miss

AllAfrica publishes around 900 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.