Bank of Tanzania issues licence to new payment service firm

The Bank of Tanzania (BoT) has permitted an African digital payments provider, DPO Pay, to operate as a Payment Service Provider in Tanzania, the company said in a statement yesterday.

The DPO is registered locally under One Payment Tanzania Limited.

The company has been licensed in line with the National Payment System Act, 2015 which requires all Payment Service Providers (PSPs) to undergo a rigorous license application process to provide payment services in Tanzania.

DPO Pay managing director, Judy Waruiru said the license highlight the firm’s commitment to compliance and regulatory standards.

“This milestone demonstrates our dedication to driving financial inclusion and economic growth in Tanzania, empowering businesses of all sizes to thrive in the digital era.

“We will continue to prioritise the security of transactions, adhering to stringent data protection protocols and industry best practices,” Ms Waruiru said in the statement.

DPO Pay says it has been operating successfully throughout Africa since 2006 and was recently acquired by Network International, a leading enabler of digital commerce across the Middle East and Africa (MEA) region.

It has worked closely with regulators across the continent to obtain new licenses as requirements vary in each country to ensure secure and uninterrupted services for its merchants and partners.

DPO Pay has gained significant recognition and trust among prestigious business in various industries including hotels and resorts in Arusha, Dar es Salaam and Zanzibar, where it has extensive experience in the travel and tourism sector.

The company, the statement said, has established itself as the preferred payment solution for major merchants in the region, including industries such as Airlines, Hotels, online retailers and logistic companies.

With a firm focus on expanding its network, DPO Pay continues to seek collaboration with top-tier businesses and brands, and cater to the diverse needs of merchants across various industries.

The company's robust security systems ensure that merchants and consumers can transact with confidence, safeguarding their sensitive information and maintaining the highest standards of integrity. With the recently updated DPO Pay Mobile app, merchants are able to collect and receive payments anywhere and anytime.

DPO Pay provides efficient payment solutions enabling businesses and individuals across the continent to accept both local and international payment options.

It has developed integrated payments technology to support businesses of all sizes in over 20 countries and accept payments securely and swiftly in multiple currencies and through diverse payment methods including cards, mobile money, bank transfers, USSD, and EFT.