Unlimit Ventures into Tanzania with New Payments Service Provider Licence

UK-headquartered fintech firm Unlimit has secured authorization from the Bank of Tanzania (BOT) to operate as a payments service provider (PSP) in Tanzania.

Unlimit, known for its expertise in cross-border business payments infrastructure, is poised to introduce an array of services to the Tanzanian market. These offerings, including business payments, merchant services, and outbound payments, are expected to usher in a new era of financial accessibility and efficiency for businesses and consumers alike.
This strategic move marks an important moment in Unlimit's broader African expansion strategy. The fintech had previously been approved as a payment solution service provider (PSSP) by the Central Bank of Nigeria in April last year, and it also received a licence from the Central Bank of Kenya the following June.

Trevor Goott, director for Africa and India at Unlimit, describes the new licence as "a tremendous opportunity", adding that the firm aims to "help consolidate the fragmented African payments landscape and drive broader economic growth" by supporting local businesses and entrepreneurs.