Tuma Ventures secures payment system provider licence in Tanzania
What you need to know:
- The licence enables Tuma to offer real-time payment processing for merchants, mobile wallet solutions, and float management for other fintech companies.
Dar es Salaam. Tuma Ventures Limited has been approved as a licensed Payment System Provider (PSP) by the Bank of Tanzania, allowing the fintech firm to expand its financial services in the country.
The licence enables Tuma to offer real-time payment processing for merchants, mobile wallet solutions, and float management for other fintech companies.
The company said these services aim to enhance financial inclusion and support economic growth.
Director of Operations at Tuma Ventures, Andrew, said: "Securing this licence is a key step as we expand into Tanzania. Our goal is to provide secure and accessible financial solutions, strengthening connections between families and businesses across borders."
Tuma is already a licensed Payments Institution in the UK, supporting remittance operations in East Africa. The company says it is committed to regulatory compliance and innovation in financial services.
As a PSP in Tanzania, Tuma plans to improve cross-border payments with secure and cost-effective solutions tailored to customer needs.
It aims to work with regulators and stakeholders to drive digital adoption and financial inclusion while ensuring compliance with local and international standards.
