Cellulant Has Been Granted Approval by Bank of Tanzania to Provide Payment Solution Services

Leading fintech firm, Cellulant Corporation, which has presence in 18 African countries, has finally received approval in principle from the Bank of Tanzania (BOT) to begin operation in the East African country as a Payment Solution Service Provider. This comes after the company fulfilled all the necessary requirements.

With this approval, Cellulant becomes  one of the top Payment Solution Service Providers (PSSP) in Tanzania. Note that Payment Solution Service Providers make up the underlying e-Payment infrastructure in Tanzania. Banks, Online Merchants, payment processors, merchants, state governments, and consumers connect to PSSPs to meet their digital payment needs.

While commenting on the development, Cellulant Tanzania’s newly-appointed Country Manager, Edwin Kiiru, said the approval is expected to enable the company to extend its payment solutions across all spectrums of Tanzania’s payments ecosystem.

‘‘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,” Mr Kiiru said.

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The fintech company, which was co-founded in 2002 by Kenya’s Ken Ngoroje and Nigeria’s Bolaji Akinboro, provides a single digital payments platform which runs an ecosystem of consumers, retailers, merchants, banks, mobile network operators, Governments, and International Development Partners. Today, Cellulant’s payments platform hosts 154 payment options across 34 countries, and is connected to 220 million consumers on a single inclusive network that allows for interoperability, a feature that has eluded numerous players in the payments space.

Cellulant is also reputed for offering the best customer experience for any business looking to digitise their payments.