We’re excited to announce a major regulatory milestone in our mission to power cross-border payments in Africa. Fincra is now licensed by the Bank of Tanzania to operate as a Payment System Provider, expanding our footprint in East Africa and strengthening our cross-border payment network across Africa.
This approval, issued under the Payment Systems Licensing and Approval Regulations, 2015, authorizes Fincra to operate regulated payment systems in the United Republic of Tanzania. With this new license, we’re now able to offer secure, scalable, and compliant payment services to businesses operating in East Africa.
“We are thrilled to receive this license from the Bank of Tanzania. It reflects our long-standing commitment to regulatory integrity and positions us to deliver even more value to businesses in East Africa. This is a key part of our mission to build the rails for an integrated Africa.” Said Wole Ayodele, CEO at Fincra.
What This Means for Cross-Border Payments in Africa
With this license, Fincra can now offer its full suite of payment infrastructure services to businesses looking to expand to Tanzania, including:
- Local collections in Tanzanian Shillings
- Business payouts to local and international recipients
- Real-time payments via API
- Cross-border transactions
Our infrastructure is designed to help businesses in sectors like fintech, logistics, travel, retail, remittances and more to move money more efficiently, scale operations across borders, and remain fully compliant with local financial regulations.
Why is Tanzania Important for Cross-Border Payments in Africa?
Tanzania’s growing digital economy and its national push for greater financial inclusion make it a strategic market for Fincra’s expansion. As more businesses go digital and cross-border trade increases, the need for trusted and regulated payment infrastructure to support cross-border payments in Africa is critical.
We’re excited to contribute to the country’s financial innovation and to support African businesses with seamless payment methods to power growth.
Building The Rails For An Integrated Africa.
This license in Tanzania follows another major regulatory milestone: Fincra’s recent approval as a Third Party Payments Provider (TPPP) in South Africa.
With regulatory approvals in both Southern and Eastern Africa, we’re building a strong foundation to support our mission of building the rails for an integrated Africa. Our goal is to provide businesses across the continent with the compliant infrastructure they need to accept and make payments, locally and internationally.
Ready to Scale With Fincra?
If you’re looking to expand your business across Africa, Fincra provides the compliant rails for cross-border payments in Africa, giving you the developer-friendly APIs, seamless payment solutions and regulatory coverage you need to build with confidence.
Create a Fincra account in 3 minutes to start making and accepting payments today.
