Digital payment launched in Zanzibar to serve tourism industry
The Zanzibar government has affirmed its dedication to advancing trade, travel, and tourism by collaborating with NMB Bank to roll out new touchless digital payment systems in the region.
Developed in conjunction with Mastercard, this project is designed to simplify financial transactions and spur economic development, thereby making Zanzibar a more attractive location for tourists and businesses.
Mastercard reports that NMB is the first bank worldwide to leverage the QR Pay by Link with Click to Pay service, which is anticipated to play a significant role in achieving a cashless economy.
Dr. Aboud Suleiman Jumbe, Principal Secretary of Zanzibar’s Ministry of Tourism and Heritage, indicated that the adoption of contactless digital payment solutions will increase Tanzania’s allure to international tourists, boosting revenue throughout the travel industry’s value chain.
“This service’s launch opens up new economic opportunities, building on the substantial growth observed over the past four years, driven by robust backing from financial institutions,” Dr. Jumbe remarked.
He reaffirmed the Zanzibar government’s resolve to closely partner with NMB and other national development entities to bolster and expand the tourism sector, maximizing its growth potential.
He commended NMB and Mastercard for their revolutionary alliance, asserting that this solution will not only reshape the local payment environment but also set Zanzibar and Tanzania as exemplars in offering unique services to travelers.
Mr. Filbert Mponzi, who serves as the Chief of Retail Banking at NMB, spoke about the launch of a new digital payments initiative.
He remarked that this development represents a major leap forward in the realm of digital payments, offering benefits to both Tanzanians and international visitors.
Highlighting the importance of the initiative, Mr. Mponzi said, “This marks an important advance in our national payment infrastructure, delivering novelty for business proprietors while guaranteeing secure transactions for consumers.”
The initiative aims to broaden the range of payment options for local enterprises that do not have access to official payment systems by providing the ‘NMB QR Pay by Link’ as a viable alternative to conventional Point of Sale (POS) systems.
Moreover, Mr. Mponzi emphasized that this innovative approach is part of collaborative efforts with both the Union and Zanzibar governments to boost Tanzania’s appeal as a tourist hotspot by simplifying transaction processes for tourists.
“Through this rollout, we anticipate bolstering the expansion of the tourism industry in Zanzibar as well as throughout Tanzania, addressing the payment difficulties faced by businesses and tourists alike,” he mentioned, highlighting that Zanzibar, often referred to as the Spice Islands, received 700,000 visitors in the previous year.
He further shared that more than 100 businesses in Zanzibar have embraced the ‘NMB QR Pay by Link’ service, acknowledging its advantages and potential economic impacts.
At the launch event, Mastercard recognized NMB for being the first bank globally to introduce the QR Pay by Link with Click to Pay service, awarding Mr. Mponzi a special honor presented by Mr. Shehryar Bahk Ali, Mastercard’s Senior Vice-President for East Africa and the Indian Ocean.
Mr. Ali commented on the innovation, stating that this new solution highlights NMB’s forward-thinking strategy, establishing the bank as a pioneer in the digital payments sphere.
“We are thrilled to collaborate with NMB on this pioneering venture, a unique achievement on the worldwide stage, signifying a notable accomplishment for both Tanzania and its citizens,” he expressed, pointing out that NMB has launched a transformation set to bring about significant economic changes internationally.
