Selcom unveils Qwiksend - a platform for banks fund transfer

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

25th January 2019, Dar es Salaam. Selcom Tanzania in collaboration with Business Connexion (BCX), have launched a new digital platform, which will be enable people to transfer cash from one bank to another.

Indeed, this is a milestone in the promotion of financial inclusion.

Selcom, who are leading innovators in mobile applications, products and services, including banking in Tanzania, say the platform namely Qwiksend will allow customers to make interbank fund transfers, in real-time, through the various digital access channels that are available to them countrywide.

Selcom Tanzania executive director of Selcom Sameer Hirji said the goal of unveiling the new platform is to promote financial inclusion in Tanzania, through simplified technology.

“Not only will interbank transfers open up a new avenue of funds transfers, but also enable smoother transactions that are cost effective for individuals and small-scale merchants alike,” he said.

“As of now, interbank transfers involve the traditional physical withdrawal and deposit or alternatively, the mobile transfer route which involves the loading of funds into one’s mobile wallet and then deposit into the beneficiary’s bank account. These routes are tedious and costly to the customer, denying the consumer the benefits of real-time transactions,” he said.