Next time you want to buy something from petty traders in Tanzania be assured that the transaction will be digital, in fact complete with QR codes.
Sounds far-fetched? Well the NMB (former National Microfinance) Bank has moved to equip resident traders selling merchandise in local market outlets with QR Codes in order to secure their transactions digitally.
“The aim here is to ensure that local merchants no longer have to carry cash with them whenever they go, also digital transactions speed up trading activities because all one needs is to scan the code using their smartphones,” explained the NMB Bank’s Head of Branch Network Department, Donatus Richard.
Richard was speaking during the occasion to introduce the cashless NMB ‘Lipa Mkononi,’ digital application to the merchants at the Kilombero Market in Levolosi ward of Arusha City, where most fruits and vegetable traders were also assisted to open their respective first bank accounts.
According to the NMB Head of Branch Network, their service motto, ‘Onja Unogewe,’ literary meaning ‘Taste and be hooked,’ opens a whole new world of digital trading using the bank’s QR Code as well as special apps to local traders who were still transacting on hard currency, a risky undertaking in crowded areas such as the marketplace.
“But the NMB Bank has also distributed Points of Sales (POS) devices to other business outlets such as retail shops, supermarkets, wholesale stores, hotels, restaurants and gas stations to enable traders and their customers to simply swap in order to accomplish for their transactions.
The occasion to introduce the service to Kilombero Market Traders in Arusha City was graced by the District Commissioner Felician Mtahengerwa, who lauded the NMB Bank for helping local merchants to modernize their businesses through digitalizing transactions.
“But it is also important to note that the NMB bank has been assisting the government in Arusha in various community projects such as rehabilitation and equipping of schools as well as rehabilitating and buying hospital beds and medical equipment for health centers among others,” stated the District Commissioner, Mtahengerwa.
In another development, the NMB Bank has urged traders to feel free to secure loans from the financial institution which guarantees affordable and manageable interests and save themselves from other high-blood pressure inducing credit schemes.