The transformation of Africa over the past decade has been more than what can be ignored. Western Civilization has played an integral part in the birth and growth of many aspects of the continent culturally, socially, politically and economically.
Our focus being on Tanzania and its economic transformation for this case however. The East African nation’s mode of payment for its transactions has seen a significant change i.e the introduction of “MM” - Mobile money has commanded an audience of over 65% of the country's transactions, being the core system of money movement in the economy.
The dominant payment systems in Tanzania
Vodacom MPESA is the dominant mobile payment choice used by more than half of businesses and individuals transacting within the economy. It has soared to be the De Facto alternative used by the country of 55.57 million people as of 2016.
Apart from Vodacom (Vodafone) that dominates the market with more than 50% of the market share, other mobile money operators come into the fold such as : TIGO with 18% share and Airtel with 13% of the market portion. The remainder is controlled by the smaller parties in Tanzania’s mobile money industry experience e.g Zantel. http://www.tanzaniainvest.com/mobile-money
More importantly, businesses have to know the following about mobile money in Tanzania :-
- 35% of household in Tanzania have at least one mobile money account.
- 32% of the population (55.57 million people) rely on mobile money as their sole financial service.
- thLessan 10% of the population have traditional bank accounts.
- The population of Tanzania relies more on mobile money due to the widespread nature of the agents that are easily accessible even for those in rural areas as compared to banks that aren't as available.
With TIGO, Airtel and Vodafone, businesses have to understand how they can work with all the dominant mobile money players so as to cover the whole market.
Dusupay enables the businesses to work with the entire Tanzanian economy while easily paying out and receiving money to all despite not being a part of any. http://blog.dusupay.com/mobile-payments-online-in-tanzania/
How is this possible
Dusupay gives you a three in one (3 in 1) ability to accept and also pay out to all the money operators in Tanzania.
This is done by simply making a single integration that connects different pay systems that wouldn't have otherwise worked together.
Businesses from abroad can simply incorporate Dusupay services and expansively reach out to a wider Tanzanian market without making them adjust from their day to day mobile money.