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Tanzania eliminates charges at POS terminals to promote digital payments

Oluwatosin Adeyemi by Oluwatosin Adeyemi
December 23, 2024
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Tanzania eliminates charges at POS terminals to promote digital payments

Tanzania eliminates charges at POS terminals to promote digital payments

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All merchant POS terminal fees for card payments nationwide have been eliminated by the Bank of Tanzania as of December 23, 2024, to promote digital payments.

The order forbids fees on prepaid, credit, and debit transactions, with merchant compliance being monitored by public monitoring systems in Tanzania’s payment network.

Read also: Bank of Tanzania to begin accepting applications for Fintech Regulatory Sandbox in January 2025

The press statement, which was released on Monday, read, “The Bank of Tanzania continues to promote the adoption and usage of digital payments in the United Republic of Tanzania. One of the key measures taken is ensuring that payments made using debit, credit or prepaid cards at merchant Point of Sale (POS) terminals are completely free of charge for consumers.”

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“The Bank hereby reminds the public that merchants are strictly prohibited from imposing any additional fees or surcharges on card transactions,” it adds.

Digital payments are a cost-effective, practical, and safe way to make purchases. Their adoption offers the advantages of improved security, transparency, and usability while also helping to create a cash-lite economy.

Read also: Funguo selects 18 Tanzanian startups in for funding, support

Citizens are to report defaulting POS terminal merchants 

The Central Bank urges the public to report any POS merchant who disobeys the directive to their respective banks or via the provided email addresses and phone numbers.

The statement which was signed by the Bank of Tanzania’s governor, Emmanuel M.Tutuba further stated, “In case you encounter any charges or surcharges while making payments at a POS terminal, please report the issue to your respective bank or contact the Bank of Tanzania’s Consumer Complaints Desk via: Email:Complaints.Desk@bot.go.tz or botcommunications@bot.go.tz Phone:+255222233246/+255222233265/+255222232541”

Tags: Bank of TanzaniaPOSTanzania
Oluwatosin Adeyemi

Oluwatosin Adeyemi

Oluwatosin Adeyemi is a seasoned writer with 5+ years of experience. He holds a degree in Animal Science from Olabisi Onabanjo University. A hardworking and creative individual with a passion for teamwork and self-improvement.

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