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In March 2020, mobile money transactions in Tanzania had a value of *** billion U.S. dollars. The first quarter of 2020 saw a total transaction value of around **** billion U.S. dollars.

Mobile money services – How are they used?

Mobile money services offer a convenient and safe payment option for people without access to bank accounts or traditional financial services. Customers can pay bills, store or transfer money to friends and family, and conduct business transactions via text.

Digital payment in Tanzania

As the number of mobile money subscriptions and transactions in Tanzania is continuously growing, more than ** percent of the country’s population are using mobile payment and money transaction services today. This figure, along with the overall value of mobile money transactions, is forecast to grow, as the number of mobile cellular subscriptions in Tanzania continues its upward trend. In addition, new partnerships between mobile money providers like M-Pesa and companies like PayPal provide consumers with a variety of new banking options and opportunities.