Tigo is extending financial inclusion in Tanzania by partnering with 17 major banks. The new service will enable Tigo Pesa customers to send and receive funds to and from any bank account to and from any Tigo Pesa wallet almost anywhere in the country.
At the launch of new service the company announced its customers will have round the clock ability to withdraw and deposit funds via Tigo Pesa to or from their bank accounts held at the 17 different banks, wherever they are in Tanzania. There are currently over 3 million Tigo Pesa account holders.
Tigo’s Head of Financial Services Andrew Hodgson said "The new service embodies our desire to give our customers the true experience of a digital lifestyle by enabling them to have access to their funds, whenever and wherever they are through a mobile phone. It helps extend financial inclusion even further."
Customers can now pay any Tigo Merchant directly and instantly from their bank accounts without having to first transfer the fund to their own wallet. Prior to the introduction of this service, Tigo Pesa and partner bank customers had limited access to cash points, having to visit a bank branch or ATM to access their funds. As of now Tigo Pesa customers can instantly send funds from their bank account to any Tigo Pesa wallet and withdraw funds at more than 22,000 Tigo Pesa “Wakalas” nationwide.
"By integrating mobile financial services and banking services our customers now have a faster and safer way of accessing their money removing the need to travel with large amounts of cash" commented Hodgson. The partnership with the 17 banks, which comprise 80% of the market, is part of an ongoing initiative to integrate Tigo’s mobile financial services with the banking services of all commercial banks and financial institutions in the country.
