I&M Bank, tech firm in e-payment agreement

I & M Bank and Smart Banking Solutions (SBS) have signed a deal that will see the former issuing the latter’s prepaid cards to its clients.

SBS’ B-Pesa cards will enable the bank’s clients to make transactions at all B-Pesa-branded merchants and automated teller machines (ATMs), according to a member of the board of directors for I & M Bank, Mr Michael Shirima. 

He said the move will simplify the duty of the police force in that it will now only be required to protect the society instead of hunting for people who would wish to accumulate money through illegal means including through banditry. 

SBS Managing Director Mr Sean Merali said, once fully adopted, B-Pesa card will help to reduce circulation of cash in the Tanzanian market and transform the country into a cash-less society.

Gracing the event, the Dar es Salaam Special Police Zone commander Mr Suleiman Kova, called upon members of the community to embrace the use of electronic money transfer systems in order to reduce the risks associated with moving around with cash.
Source: The Citizen, reported by Frank Kimboy from Dar es Salaam, Tanzania
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