Tigo Pesa and Mastercard offer QR payment solution in Tanzania
The Tanzanian mobile money service, Tigo Pesa, has partnered with the US-based financial company, Mastercard, to launch Masterpass QR in Tanzania.
The firms announced on 30 May that the payment solution was live and available for use in the nation.
Tigo Pesa Masterpass QR offers a quick, easy, and secure solution to cashless payments, allowing customers to pay at QR-code displayed checkouts with smartphones, or by using a merchant code.
“We are extremely proud to be the first and only mobile operator in Tanzania to offer this service to our consumers,” stated Simon Karikari, Managing Director of Tigo Tanzania.
“This innovation has come at the right time as we are broadening our Tigo Pesa ecosystem.”
“We envisage Tigo Pesa becoming a fully-fledged financial service provider where customers are able to perform a variety of transactions.”
“With millions of Tanzanian’s preferring to use their mobile devices to pay for goods and services Masterpass QR will provide them with a fast, easy to use and secure way to pay for goods and services.”
“Our focus is to help Tanzania become a strong digital economic hub in Africa, and through the introduction of relevant technology innovation we will help displace the use of cash and create a more convenient and secure payment sector,” remarked Raghav Prasad, Division President for Sub-Saharan Africa at Mastercard.
“The partnership between Mastercard, Tigo and Selcom is a game changer for the country, and will help shape a new digital age of commerce in Tanzania.”
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.