Select Countries and Regions

Tanzania

Tanzania Instant Payment System (TIPS)

Scheme name: Tanzania Instant Payment System (TIPS)

IIPS Type: Cross-domain

Instruments: Credit EFT, E-money

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

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 map
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.

African IPS Map

Selected Country
Live IPS
IPS in development
No data
Select region to view data