After entering Kenya in 2020, the payments service company Virtual Pay has now expanded its regional reach by entering Tanzania. The Bank of Tanzania authorized the international supplier of payment solutions to conduct business in the second-largest economy in East Africa.
The firm operates across a variety of industries, including financial services, online retail and trade, hotel, and travel, and is also present in Mauritius and the United Arab Emirates (UAE).
CEO of Virtual Pay Group David Morema claimed that the firm now has a platform to continue growing as it aims to capture a greater portion of the global payments industry.
According to Mr. Morema, “Providing cutting-edge payments solutions,” Virtual Pay “strives to be one of the world’s leading global payment technology companies.”
The managing director of Virtual Pay Tanzania, Miriam Nghwani, emphasized the value of collaboration among participants in the online payment processing industry.
“The conversation into the future will be driven by all actors within the payments ecosystem, such as banks, card issuers, merchants,and government,” he remarked.
Director-General Dr. Nkundwe Moses Mwasaga of Tanzania’s Information and Communication Technology Commission said that the company’s admission into the nation will promote the development of employment and economic prospects.