DAR ES SALAAM: THE global payments giant, Mastercard, and local fintech firm Instant Pay have entered into a strategic partnership aimed at fast-tracking Tanzania’s digital payments transformation agenda.
The agreement today at Instant Pay’s headquarters in Morocco, Dar es Salaam, marks a major step toward expanding secure, inclusive electronic payment solutions across key sectors of the economy.
The partnership led by Instant Pay Chief Executive Officer Anwar Rugaza and Mastercard’s Senior Vice President and Country Manager for East Africa, Shehryar Ali is expected to strengthen Tanzania’s transition to a modern, cashless economy by enhancing efficiency, transparency, and access to financial services for both citizens and institutions.
Under the agreement, the two companies will collaborate in several priority areas, including government payments, where they aim to improve public sector revenue collection through an integrated digital payments platform designed to simplify services and boost accountability.
ALSO READ: Tanzania steps up efforts to upgrade its roads with a training on road safety
They will also roll out modern payment systems in the transport sector to make transactions safer and more convenient for commuters.
The partnership further targets the tourism sector and micro, small and medium enterprises (MSMEs), expanding the use of digital payments to ease transactions for local customers and international visitors.
Other areas of cooperation include card issuance and broader financial inclusion initiatives, promoting internationally recognized payment products while widening access to formal financial services across the country.