Tanzania Postal Bank (TPB) and Airtel Tanzania have entered into a mobile money agreement, which allows the bank's customers to access financial services using Airtel Money.
Airtel Tanzania managing director Sunil Colaso was quoted by thecitizen.co.tz as saying that the move seeks to help the company's subscribers who are also TPB customers to access banking services hassle free.
"We target daily financial needs of Tanzanian consumers....Under this partnership, our customers who also bank with TPB across the country will enjoy easy banking services," Colaso told the news portal.
As per the terms of the agreement, TPB's customers can now access financial services by using their mobile phones, transfer funds from their bank accounts to their phones or transfer money from their bank accounts to business partners, friends or relatives' accounts.
Tanzania Postal Bank acting CEO Jema Msuya told the news site that the agreement with Airtel reinforces the bank's commitment to extend financial inclusion in the country. It also gives the financial entity a chance to serve the firm's customers with other services.
"These other services include balance inquiry from your account, mini statement and bank transfers," Msuya added.
Airtel Money, which is protected by a modern security application, has more than 20,000 Airtel Money agents across the country.
