Cellulant, a Pan-African financial technology company, has been issued with an approval in principle by the Bank of Tanzania (BOT) to operate as a Payment Solution Service Provider (PSSP) in Tanzania. This is after the company fully satisfied all the necessary requirements.
In Tanzania, Payment Solution Service Providers make up the underlying e-Payment infrastructure. Banks, Online Merchants, payment processors, merchants, state governments, and consumers connect to PSSPs to meet their digital payment needs. This approval makes Cellulant one of the top PSSP in Tanzania endorsed by the BOT to provide digital payments solutions across the country.
Edwin Kiiru, the recently appointed Country Manager for Cellulant Tanzania, stated that this approval will enable the company to extend its payment solutions across all spectrums of Tanzania’s payments ecosystem.
Using its digital payments platform dubbed Tingg, Cellulant addresses the complex payments needs of businesses. Tingg makes it easy and efficient to collect and make payments across multiple payment methods in different currencies. This enhances the customer experience for any business looking to digitize their payments.
Further commenting on the approval, Mr. Kiiru added, “Cellulant is a critical component of Africa’s Payments ecosystem and a key actor in delivering seamless payments solutions. This approval sets Cellulant into a select group of few payment aggregators that operate as PSSPs in Tanzania and will help add millions of economically active but financially excluded Tanzanians into the digital payment ecosystem. We are bringing to Tanzania the same top-level performance and seamless payments solutions that have made Tingg, Africa’s most preferred payments platform.”