About
The Tanzania Instant Payment System (TIPS) is a national switch built and operated by the Bank of Tanzania to connect banks, mobile money operators and other licensed providers. It replaces the bilateral agreements providers previously used, and Vodacom, Airtel and Tigo were named among its participants. After a June 2021 pilot, a phased launch was set for February 2022, starting with person-to-person and person-to-business payments that customers make from their own provider's USSD menu or app. It runs on a not-for-loss basis with same-day settlement. In 2024 it processed more than 490 million transactions worth TSh 15.7 trillion, and 45 providers were connected by early 2025.
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