Four-nation visa system launched as transactions hit 500m

DAR ES SALAAM: DIGITAL financial transactions in Tanzania have increased by over 500 million during the 2025/26 fiscal year compared to previous periods.

The governor of the Bank of Tanzania (BOT), Emmanuel Tutuba, revealed this today, 16 July 2025, in Dar es Salaam during the launch of Visa’s new office in Tanzania, at an event dubbed “Visa Day.”

The new Visa office is expected to serve the East African region, including Tanzania, Burundi, Uganda, and Rwanda.

Speaking at the event, the governor noted that in the past, most transactions were conducted in cash, but the introduction of affordable payment systems, such as Tips, which integrates all mobile networks, has made it easier for people to conduct digital transactions.

According to the BOT boss, 500 million transactions were made in just one year.

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“Although we’re seeing a decline in the use of cheques, interbank transactions have continued to grow. Even ATM withdrawals are increasing. In fact, we’ve seen that areas that used to rely heavily on cash are now shifting to mobile transactions,” Mr Tutuba said.

On his part, Visa’s Country Manager in Tanzania, Victor Makere, said that the company has a special system in place to ensure payment security, where even if a payment goes wrong, the system ensures you can get your money back.