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Tanzania

Tanzania Instant Payment System (TIPS)

Scheme name: Tanzania Instant Payment System (TIPS)

IIPS Type: Cross-domain

Instruments: Credit EFT, E-money

Channels: Browser, App, QR, USSD, Branch, Agent

Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Inventory & business services (B2B), Salaries & wages (B2P)

Inclusivity level: Progressed

Year of establishment: 2021

System owner: Bank of Tanzania

Overseer: Bank of Tanzania

Operator: Bank of Tanzania

Total Participants: 46

Volumes 2023: 267,474,830

Values 2023: 5,526,147,640 USD

Back to mapMore information about this topic
CategoryTanzania Instant Payment System (TIPS)
Geographic reachDomestic
Geographic descriptionTanzania
Scheme governanceBank of Tanzania
Settlement agentBank of Tanzania
Participants - commercial banks37
Participants - MMOs6
Participants - non-bank PSPs0
Participants - MFIs2
Participants - Other1
Volumes 202174,348
US$ Exchange Rate 30 April2,579.2700
Values 202119,793,140 USD
Values 20221,102,329,018 USD
Values 2023 not-on-us transactions (US$)5,526,147,640 USD
Values 2023 on-us transactions (US$)N/A
Total value of instant payment transactions 2023 (US$)5,526,147,640 USD
Interoperability arrangementPayment system operator
Ownership modelRegulator-owned
Governance TypologyCentral bank
Scheme rules shared or publically available?No
Messaging standardProprietary
Types of proxy IDsMobile phone number; QR ; Merchant ID; Wallet ID; FSP Generated Aliases; Government control number
Use of open APIsYes
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use casesNo
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseNo
Not-for-lossYes
StatusProgressed with potential to reach mature level
Strengths/driversFulfilment of progressed criteria as well as a already fulfilling the not-for-loss business model provides a good base to reach mature level.
Areas of developmentAreas of development include expanding use cases as well as developing consumer recourse requirements.

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