NMB Mobile Banking
To support NMB improve its banking convenience, by providing a faster, flexible and affordable channel to the un-banked Tanzanians and bank clients.
FSDT provided co-funding to the National Microfinance Bank Plc (NMB) to facilitate the establishment of Mobile Phone Banking Service platform. This was the first innovation of its kind by any Bank in the Tanzanian market.
- National Microfinance Bank Plc
- Mobile Network Operators – Vodacom, Airtel, Tigo and Zantel
Through this platform, customers have been able to make different transactions through their mobile phones.
The platform is primarily being used for balance enquiry, transactions’ mini-statements, and airtime purchase/top up, LUKU purchase as well as money transfers. The activity/number of transactions as well as its value has cumulatively been increasing over time on the NMB mobile accounts.
As at 30th June 2012, number of transactions was 74 million valued over TZS 516 billion.
In 2011 NMB introduced NMB PesaFasta and Bills payment on the MPB platform respectively. PesaFasta enables NMB account holders to transfer money to a non account holder with a mobile number.
As at 30th June 2012, the volume of transactions reached over 189,000 valued at TZS 12 billion while the number of transactions was over 5,440 valued at TZS 380million.Evolution of Mobile Financial Services in Tanzania
Links to PDFs
Financial Inclusion Tracking Survey