More banks join mobile transfer platforms

Commercial banks have started integrating their services with mobile money transfer platform owners, as the latter have become crucial players in the country’s financial scenario.

Apart from Exim (see separate story), Diamond Trust Bank (DTB) and Akiba Commercial Bank (ACB) are the latest entrants, who, on different occasions announced entering into the system that allows their clients to conduct certain financial services using their mobile phones.

DTB announced yesterday that it has entered into a partnership with Vodacom Tanzania that seeks to allow customers with M-Pesa accounts to make cash withdrawals through Diamond DTB ATMs.
At the same time, ACB also got into a partnership with Selcom Group that seeks to enable the bank’s clients use mobile phone money transfer services to access their accounts.

Speaking in Dar es Salaam yesterday, the head of Sales and Marketing for DTB, Mr Sylvester Bahati, said:
“This partnership is meant to extend and complement the services that telecoms have been undertaking to provide financial solutions to even the underreached areas in the country.”

Mr Bahati noted that the initiative was expected to make M-Pesa withdrawals even more convenient and reliable. It even applies to those who don’t hold a DTB bank account.He said that the extension of withdrawal channels through DTB will be an addition to more than 40,000 existing M-Pesa agents across the country.

“A DTB ATM is now like any other M-Pesa agent which offers 24 hour access to cash,” Mr Bahati said.
Speaking on behalf of Vodacom, Mr Salum Mwalim, the manager external affairs said, “This is yet another milestone that we are marking today. Vodacom is extending its M-Pesa agent network to DTB”.

“Vodacom and DTB partnership means increasingly accelerating and improving service delivery to our customers, clients as well as ensuring expansion of services and products,” said Mr Mwalimu.

DTB has continued with their innovation strides by introducing new products, services, opening branches and ATMs countrywide. It has been DTB’s strategy to improve the service delivery to existing and potential customers all over Tanzania.
Source: The Citizen,, reported by Sturmius Mtweve in Dar es Salaam

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