THE Tanzania Telecommunications Corporation (TTCL) has launched a digital account, targeting among others, to stimulate small and large businesses in the country.
“The digital account will boost the businesses, particularly to ease making online payments and contribute to efforts in promoting a cashless economy,” said the T-Pesa Director, Ms Lulu Mkude at the 47th International Trade Fair (DITF) recently.
She said the new innovative product will stimulate the development of the economy by easing receiving, sending money, paying for goods as well as making digital purchases.
“The launch of the account is unique bringing great technological progress and it is an opportunity for people to participate in the digital economy,” she said.
Ms Mkude said that the customer can join and enjoy digital financial services by using T-Pesa App.
“This account which is launched to simplify financial services is an important step in promoting financial services,” said Ms Mkude.
Gracing the launching event, the Tanzania Trade Development Authority (Tantrade) Director General, Ms Latifa Khamis said the innovation made by TTCL is unique that uses a smartphone, a service that has come at the right time for digital use.
“It has come at the right time, when the government is moving towards systems where physical contact is going to decrease. It is a service that comes at the right time, making it easier to receive money, stimulating small and large businesses,” she said.
The digital account known as ‘T-Pesa Virtual Account’ can be used by customers through mobile phones to deposit or withdraw from the bank.
Ms Khamis advised TTCL to provide services in areas that are not easily accessible, particularly in rural and near borders of the country to increase communication network availability.
She called on its officials to think of simple technologies that can be accessible to rural people and help them in stimulating their economic activities.
Ms Khamis said TTCL has brought a great revolution to the SME sector, making it easier for those who do not have bank accounts to use the system and benefit from financial security.
“It is a system that stimulates the economy and promotes the financial sector but also stimulates investment,” said Ms Khamis.
