Selcom & CRDB Bank partner in simplifying payments
The Selcom-CRDB partnership comes at a crucial time when systems have to communicate more frequently than usual to help merchants grow their digital ecosystems. Given that both players are working with the same consumers, this partnership is the next big step within the merchant payments space in Tanzania.
(Left) Geofrey Mwakamyanda, Head of Business Unit at Selcom, speaks at the launch ceremony held at CRDB’s Headquarter in Dar es Salaam on behalf of Selcom’s Executive Director, Sameer Hirji. Sharing the stage is Acting Director of CRDB’s Individual & Commercial Clients, Bonaventura Paul (Middle) & Chief Operating Officer of CRDB, Bruce Mwile.
SEPTEMBER 2022, DAR ES SALAAM: In an effort to accomplish the objective of simplifying payment process in the country, Selcom and CRDB finalised a strategic partnership to enable SimBanking customers to pay at Selcom Pay merchants and for Selcom-enabled issuer channel customers to pay at CRDB QR merchants. This adds CRDB to Selcom's growing list of banks and goes a step further in bringing cost efficiencies to the processing, clearing and settlement process.
Selcom Pay, launched in 2018 was the first merchant payment solution in Tanzania, to enable customers to pay for goods and services using QR code or merchant till numbers. Through its partnership with Mastercard, Selcom Pay became the only merchant payment solution to work with over thirty banks and all six incumbent mobile wallet providers. The Selcom Pay platform currently enables over 50,000 merchants in the country to collect payments electronically using its deep integration APIs that are both issuer and settlement channel agnostic and support e-commerce merchants too.
The Selcom-CRDB technological cooperation will increase number of users making payments online, reduce transactional costs and also increase the level of financial inclusion in our society.
SimBanking customers can now pay at Selcom Pay merchants and for Selcom-enabled issuer channel customers can pay at CRDB QR merchants.
Speaking at the recently held signing ceremony held at the CRDB Bank Headquarters;
“This cooperation will enable customers to make payment using SelcomPay service through the SimBanking digital payment platform with ease. Through this collaboration the Bank’s customers will now be able to make payment at all merchants’ point of sale or online (via websites or mobile application) which accept payment thorough Selcom by the use of QR Code and Selcom Paybill by accessing their SimBanking App or using the USSD Menu by dialing *150*03#.”
Mwile revealed that this step will enable many vendors/merchants in the country to receive payment with ease especially considering that CRDB Bank and Selcom boasts a very wide network, and they have been able to connect many businesses in their respective Payment system.
The contract signing ceremony went hand in hand with the launch of the customer education campaign using the slogan "UKIONA SELCOM LIPA! UKIONA CRDB LIPA!" with the objective of raising awareness to the customers on how they can use this opportunity between CRDB and Selcom to complete their payments.
“This cooperation between Selcom and CRDB Bank is enough evidence of the commitment of these two institutions in prioritizing the customer. Being two of the largest institutions offering financial services and Payment technology solutions, Selcom and CRDB saw the need of simplifying the way their customer can pay of goods or services using their mobile phone directly from their CRDB bank account. This will also enable merchants using the Selcom Service to expand the scope of customers served using various payment methods.”
Selcom & CRDB Bank team at the launch ceremony recently held at the CRDB Headquarters in Dar es Salaam.
This brand new cooperation between CRDB and Selcom is expected to significantly revolutionize the payment technology scene in the country. According to the report issued, it shows that CRDB Bank has more than 20,000 payment contact points, while Selcom has well over 50,000. Jointly, these organizations will also highlight in increasing the payment points so as to take the service closer to the majority.
About Selcom:
Selcom is a Pan-African cross-segment financial and payment services provider, providing its customers across Sub-Saharan Africa, with a full range of electronic payment products and services focusing on digital, card and card-less processing services. Selcom Huduma, initially under the Selcom Paypoint brand, was founded in 2009 to facilitate cash-assisted bill payments in Tanzania. The service is now being provided by over 50,000 agents nationwide.
About CRDB:
CRDB Bank is one of the leading banks in East Africa, offering service to small, mid-level and large-scale customers offering personal banking, treasury services, insurance services, business loans, agricultural loans and facilitating the small businesses.
CRDB Bank is the first bank in Tanzania to be recognized by the International Researchers named Moody's Investors Service as one of the 10 banks in Africa considered safe for investing. Moody's also have rated the Bank with the B1 Rating which is the highest rating to be attained by any Bank or Financial Institution in the Sub-Saharan Africa.
CRDB Bank has be recognized by the UN Global Climate Fund since 2019, and also has been recognized as the "Best Bank in Tanzania" by the Euromoney Magazine in 2022.
CRDB Bank has been a vital business link between Tanzania and Burundi by serving more than 4 million customers through the broad network of 268 Branches, more than 22,000 CRDB Wakalas, more than 550 ATMs, more the 1800 POS and a 24-hour Customer Care Center.