NBC, TTCL forge partnership to allow customers access cash digitally

04Dec 2019
The Guardian Reporter
Dar es Salaam
The Guardian
NBC, TTCL forge partnership to allow customers access cash digitally

CUSTOMERS of National Bank of Commerce can now easily transact through T-Pesa of Tanzania Telecommunications Company Limited thanks to an agreement reached between the two companies.

National Bank of Commerce’s head of digital services, Deogratius Mosha (L) addressing a news conference in Dar es Salaam yesterday

Addressing reporters in Dar es Salaam yesterday, NBC’s head of digital services, Deogratius Mosha said the deal will allow digital payment solutions to be accessed by more consumers in the market hence facilitating financial inclusion.

“The launching of this services means that T-Pesa customers can now move their money into an NBC account hence ensure safety and security while also allowing them to move money from the bank and pay third parties,” Mosha said.

He said NBC is committed towards extending formal banking services to the majority of the people most of whom own a mobile phone and may probably be TTCL subscribers based in rural areas of the country.

“In order to make sure that the public has access to formal banking services, NBC has introduced a number of digital products such as NBC Mobile, Internet banking and NBC application backed by over 2,000 NBC Wakalas located countrywide,” he added.

The NBC head of digital services further noted that the partnership with T-Pesa simply serves to extend banking services among the wider population because many adults in the market currently own a mobile phone.

“This agreement allows T-Pesa customers access their NBC accounts through their mobile phones at the comfort of their premises anywhere in the country,” he stressed.

Speaking at the same event, T-Pesa director of mobile financial services, Lulu Mkude said the deal will benefit millions of TTCL customers who are being served countrywide by a network of over T-Pesa 20,000 agents.

Mkude said the state owned TTCL which is T-Pesa’s holding company continues to grow and conquer the crowded market through digital payment solutions which has now been extended to NBC, one of the market’s top five elite commercial banks.

 “T-Pesa’s growth has resulted into efficiency and rapid increase in electronic transactions which include online shopping, sending and receiving money but also payment of utility bills, fees and many more,” she noted.

Mkude stated that T-Pesa’s rapid growth is also creating jobs through agents but also adding value to economic growth as digital transactions have meant that individuals and businesses are easily paying and receiving cash.

“Because of easy access of digital transaction through mobile phones, the percentage of people with access to financial services has increased from 44 percent in 2009 to 76 percent currently,” she noted while inviting consumers to join the NBC-T-Pesa platform for better digital transactions.