Home Banking NMB Bank, Mastercard Launch Tanzania’s First QR Pay by Link Solution

NMB Bank, Mastercard Launch Tanzania’s First QR Pay by Link Solution

NMB Bank Pl in partnership with Mastercard has unveiled Tanzania's inaugural QR Pay by Link (QR PBL) payment solution, marking a pivotal step in the nation’s digital transformation journey.

by Brian Yatich
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NMB Bank Pl in partnership with Mastercard has unveiled Tanzania’s inaugural QR Pay by Link (QR PBL) payment solution, marking a pivotal step in the nation’s digital transformation journey.

The payment solution allows small and medium-sized enterprises (SMEs) to accept card payments through QR codes or secure links, streamlining payment acceptance without the need for physical point-of-sale (POS) devices.

The launch represents Africa’s first in-store QR PBL utilizing Mastercard’s Click 2 Pay feature, which facilitates fast, secure, and password-free transactions for consumers.

Designed to cater to the rising demand for user-friendly and secure digital payments, the solution significantly enhances the feasibility for SMEs to integrate digital payment options cost-effectively.

Through QR code scanning, consumers are directed to a secure payment link on their smartphones, doing away with costly payment terminals. This innovation empowers Tanzanian businesses by providing a more accessible payment system that aligns with the unique needs of both merchants and customers.

Ruth Zaipuna, Chief Executive Officer of NMB Bank, stated that the solution is a game-changer for businesses of all sizes.

“With a simple link, we have made payments easier, safer, and faster for everyone, allowing businesses to concentrate on their core operations while offering customers seamless payment options.”

Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, added: “This launch highlights our commitment to promoting financial inclusion and digital transformation in Tanzania. We are excited to partner with NMB Bank to introduce this advanced digital solution, which enables merchants to offer secure, touchless payments without needing expensive terminals.”

With an estimated 3 million small businesses employing over 5 million people in Tanzania, this solution holds transformative potential across various sectors including hospitality, retail, food services, transportation, and tourism. From local markets and restaurants to taxi services and boda boda drivers, businesses throughout Zanzibar and greater Tanzania can now deliver fast, secure payment options directly via smartphones.

The QR PBL solution enhances payment security and convenience, ensuring that SMEs can engage with the digital economy at minimal cost. It supports card acceptance for Mastercard and other payment schemes, including UPI, providing merchants with diverse payment choices for consumers. The implementation of QR codes will extend payment capabilities to merchants who previously faced barriers due to high costs or inadequate infrastructure.

As part of Mastercard’s global initiative to connect 1 billion people and 50 million micro and small merchants to the digital economy by 2025, the QR PBL solution encapsulates a commitment to fostering inclusive growth and fueling economic development across Tanzania and beyond.

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