Tuma Ventures Limited, a Kenyan fintech, proudly announces its approval as a licensed Payment System Provider (PSP) by the Bank of Tanzania.
This significant achievement underscores Tuma’s dedication to delivering secure, seamless, and customer-focused financial solutions to communities across the region and beyond.
The PSP license affirms Tuma’s adherence to stringent regulatory standards and unlocks its ability to offer a comprehensive suite of financial services in Tanzania. These include real-time payment processing for
merchants, mobile wallet solutions, and float management for other fintechs—solutions designed to advance financial inclusion and foster economic development.
Francis Kamau, the General Manager at Tuma Ventures, commented on the milestone:
“Securing this license from the Bank of Tanzania is a pivotal moment for Tuma as we expand into this vibrant market. Our mission has always been to deliver secure, reliable, and accessible financial solutions.
We are thrilled to contribute to Tanzania’s economic growth and strengthen connections between families and businesses across borders with our innovative services.”
This milestone builds on Tuma’s strong foundation as a licensed Payments Institution in the UK, which serves as the cornerstone of its remittance operations in East Africa. It demonstrates the company’s
commitment to regulatory compliance, innovation, and excellence in financial services across its markets. Tuma is more than a payment service – it’s a lifestyle product empowering East Africans in the diaspora
to seamlessly transact with their home countries as if they were physically present.
By bridging the gap between the diaspora and their loved ones, Tuma fosters deeper connections and enables dependable financial transactions that enhance everyday life.
As a newly licensed PSP in Tanzania, Tuma says it is now set to enable cross-border payments by offering solutions that are affordable, efficient, and secure in the country. These services will meet global standards while addressing the specific needs of its customers.
Tuma remains committed to fostering partnerships and driving digital adoption to advance financial inclusion. By working closely with regulators, partners, and stakeholders, Tuma will continue to provide
unparalleled value to its growing customer base while ensuring full compliance with local and international standards.
Tuma is a licensed financial services provider (FSP) by the Central Bank of Kenya licensed to process remittances in partnership with NCBA Bank.
The fintech also has an SPI payments license to operate in the United Kingdom.
So far, the fintech has partnered with the following entities to process payments:
- VISA
- M-PESA
- MasterCard
- Airtel
- PesaLink
- TerraPay
- SasaPay
- Verto
- Gtxn
- NCBA
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About Tuma
Tuma is a pioneering fintech company offering innovative financial solutions to connect people and businesses across the UK, Kenya, and Tanzania.
By leveraging cutting-edge technology, Tuma delivers fast, secure, and affordable digital payment solutions designed to meet the evolving needs of its customers while promoting financial inclusion.
Tuma has offices in both Nairobi and the UK.
For more information about Tuma, please visit https://tuma.com/
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