SMART Banking Solutions Limited (SBS) has introduced the first prepaid card in Tanzanian market, named B-PESA, at the official roll-out ceremony held in Dar es Salaam, Tanzania. It allows a customer to transact at any B-PESA branded merchants, member banks. It also support B-Pesa branded ATM, some of which supplied by GRGBanking, the leading ATM vendor from China.

The SBS Managing Director Mr. Gustav Vermaas said the card allows a customer to have the flexibility of card to card transfers, withdraw cash, deposit cash, pay bills and payment of purchases at B-PESA branded merchants.

During the ceremony, the China UnionPay International Chief Representative for Africa and Middle East, Li Zhixian, signed with Mr. Vermaas on the partnership between UnionPay and B-PESA. Mr. Li said the new card scheme "will be able to change the landscape of Tanzania's payment industry. UnionPay is always committed to facilitating payment services in each country".

SBS Board Member, Dr. Edmund Mndolwa said the introduction of this payment system would create substantial benefit to Tanzanian traders as they will not need to look for foreign currency when buying goods abroad, because B-PESA will soon be accepted at all China UnionPay International points worldwide, after B-PESA and UnionPay signed an agreement of cooperation during the event.

Many local banks have expressed interest to start issuing B-PESA cards to their customers.

Adam Lee, General Manager of GRG Banking Equipment (HK) Co., Ltd (GRGHK), the wholly-owned subsidiary of GRGBanking, attended the ceremony and commented that, "As a global leading provider of currency recognition and cash processing solutions, GRGBanking attaches great importance to the B-Pesa project. We believe our advanced cash dispensing solution can contribute to the development and innovation of local banking industry. In future we will bring better and more convenient technology to better the local entire cash supply chain ecosystem."



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