The Central Bank of Kenya (CBK) has approved the launch of the TandaPay mobile money wallet, advancing cyber finance in Kenya. TandaPay, a cutting-edge fintech service, claims to transform Kenyan finances by giving a variety of perks to meet individual consumers’ demands.
With CBK’s permission, TandaPay will disrupt Kenya’s mobile money industry and build on its digital financial services basis. As more Kenyans utilise mobile money, TandaPay wants to distinguish itself with its unique features and user-friendly layout.
“This distinction highlights Tanda’s pivotal role in setting a benchmark for innovation and trust in the digital financial services sector,” it stated.
Read also: Kenya Central Bank grants licence to 19 new digital credit providers
Mobile money
“Receiving the Emoney Issuer License is not just a regulatory achievement. It advances our aim of creating economic opportunities for Kenyans and businesses through mobile wallets, “TandaPay co-founder and CEO Geoffrey Mulei remarked.
Customer benefits of TandaPay include an interoperable wallet that allows customers from all mobile money networks to make payments through the TandaPay Till using *712# effortlessly and for free.
Businesses using the mobile wallet obtain a free TandaPay Till to take payments from any mobile money network and quickly payout to Tills, Paybills, or Saccos.
“TandaPay App and online Dashboard enable easy collection and payout,” the company added.
Additionally, TandaPay provides financial management tools to help consumers manage their money. TandaPay helps consumers make informed financial decisions and reach their goals by managing budgets, expenses, savings goals, and investments.
To secure users’ funds and data, TandaPay takes strong security precautions. Advanced encryption protects transactions in the mobile money wallet, giving users peace of mind.
feature of TandaPay
Lending from a mobile money wallet is one of TandaPay’s most creative features. By analysing users’ transaction history and financial behaviour, TandaPay offers personalised loans with reasonable interest rates and flexible repayment terms. For emergencies, corporate growth, and personal development, fast credit provides a financial lifeline.
TandaPay’s financial inclusion efforts target underprivileged communities and empower those without access to regular banking services—TandaPay partners with local companies and community organisations to widen mobile money availability in Kenya.
Finally, the CBK’s acceptance of TandaPay’s mobile money wallet is a significant announcement for Kenya’s digital banking sector. TandaPay will change Kenyan finances with its user-friendly design, smooth interaction with mobile money systems, solid security features, and unique loan platform. As more users adopt TandaPay’s simplicity and flexibility, the mobile money wallet will drive Kenya’s financial inclusion path, helping individuals and communities attain financial freedom and prosperity.
