By Charles Mkoka
Dar
es Salaam – Tanzania Commercial Bank (TCB) has officially
launched a groundbreaking digital payment service called Lipa Popote, aimed at
empowering small and medium enterprises (SMEs) and entrepreneurs across
Tanzania. This innovative service allows TCB customers to receive payments
directly into their TCB bank accounts via a single merchant number, providing
business owners with a streamlined and secure transaction experience.
Through
Lipa Popote, business owners can utilize a single QR code or payment number to
receive funds instantly and without any extra fees. The service is designed to
simplify financial transactions, enabling SMEs to focus on growth by making
business payments quick, easy, and accessible through TCB’s mobile app.
At
the launch event, TCB’s Director of Retail and SME Banking, Ms. Lilian Mtali,
expressed confidence that Lipa Popote would advance the bank’s financial
inclusion agenda, benefiting businesses, individuals, and underserved
communities. “With digital solutions like Lipa popote, we are giving
entrepreneurs and business owners the tools they need to manage transactions
seamlessly and concentrate on growth,” said Mtali. She added, “TCB is committed
to supporting Tanzanians by providing accessible services, and we welcome
everyone to join us as we drive mutual growth and progress.”
Jesse
Jackson, TCB’s Chief Digital and Innovations Officer, highlighted that the
service is tailored to assist the SME sector, representing 90% of Tanzania’s
businesses and contributing approximately 30% of the national GDP.
“TCB
is committed to fostering innovation that positively impacts Tanzanians’
livelihoods. LIPA POPOTE is a demonstration of our dedication to supporting
SMEs with an efficient and secure payment solution,” Jackson said.
TCB’s
Chief Executive Officer, Adam Mihayo, also acknowledged the Bank of Tanzania's
support in enabling TCB to introduce this transformative digital service. “As
digital transformation reshapes the nation’s economy by empowering MSMEs, TCB
is at the forefront of delivering innovative banking solutions that promote
financial inclusion,” Mihayo stated.
With
the SME sector rapidly expanding across Tanzania, Lipa Popote is anticipated to
play a vital role in accelerating financial inclusion and economic growth by
removing financial barriers for small businesses and enabling more efficient
payment processes.
This service marks a significant milestone for
TCB, celebrating a decade of service to Tanzanians while looking forward to
further supporting the country’s economic development.
