Cellulant, an African fintech company, has been granted permission to operate in Tanzania
Cellulant, an African fintech company, has been granted permission to operate in Tanzania
Tanzania's Bank of Tanzania (BOT) has granted permission to Cellulant Corporation, a leading payment company in Africa, to operate as a Payment Solution Provider in the country. In principle, this approval was granted after the telecom operator met all of the requirements necessary to obtain approval in the first place.
Because of this approval, Cellulant has risen to the top of the list of Payment Solution Service Providers (PSSP) in Tanzania, having been approved by the BOT to provide digital payments solutions throughout the country.
Payment Solution Service Providers (PSSPs) are the foundation of Tanzania's electronic payment infrastructure. For the purpose of meeting their digital payment needs, banks, online merchants, payment processors, merchants, state governments, and consumers establish connections with PSSPs.
As Edwin Kiiru, the company's newly appointed Country Manager for Tanzania, explained, receiving this approval will allow the company to expand its payment solutions across the entire spectrum of the country's payments ecosystem.
A single digital payments platform
Cellulant offers a single digital payments platform – named Tingg – that is capable of meeting the diverse payment requirements of businesses. Tingg simplifies the collection and processing of payments across a variety of payment methods in a variety of currencies, while providing the best customer experience for any business looking to digitize their payment processes.
In addition to being an important component of Africa's payments ecosystem, Cellulant is an important actor in the delivery of seamless payments solutions. This approval places Cellulant in a select group of only a few payment aggregators that are authorized to operate as PSSPs in Tanzania, and it will aid in the inclusion of millions of Tanzanians who are economically active but financially excluded into the digital payment ecosystem. The same high-level performance and seamless payments solutions that have made Tingg Africa's most preferred payments platform are being brought to Tanzania, Mr. Kiiru continued.
Cellulant, which was founded in 2002, is a leading Pan-African financial technology company that provides a one-stop digital payments platform for businesses. Using a single digital payments platform, Cellulant manages an ecosystem that includes consumers as well as retailers and merchants, as well as banks, mobile network operators, governments, and international development organizations.
Cellulant's payments platform currently supports 154 payment options in 34 countries and is connected to 220 million consumers through a single inclusive network, enabling interoperability that has previously been elusive for many players in the payments space.
In addition to having offices in 18 African countries, Cellulant uses technology to connect people and their resources, making it easier for businesses to do business throughout the continent.
