Selcom

About Us

Selcom is a prominent financial technology (FinTech) company in Tanzania, widely recognized for its pivotal role in the country’s digital payments ecosystem. It is a wholly-Tanzanian owned private company that has evolved from its origins as a prepaid airtime distributor to become a leading and pan-African financial services provider. Selcom is officially licensed and regulated by the Bank of Tanzania (BoT).

Key Business Areas and Products

Selcom’s business is built on providing a full range of electronic payment products and services, with a strong focus on digital, card, and cardless processing. Its services cater to individuals, businesses, and government institutions.

• Payment Gateway and Bill Payments: Selcom operates a widely used payment gateway that integrates with a vast network of service providers. This allows customers to pay bills for utilities (like TANESCO and DAWASA), airtime, TV subscriptions, insurance, and government fees through various channels, including its extensive network of point-of-sale (POS) terminals.
• Selcom Huduma (Agency Banking): This is one of Selcom’s most visible services. The company owns and operates a large network of agents and POS terminals nationwide. These agents act as a bridge for financial inclusion, offering basic financial services like cash deposits, withdrawals, and bill payments for mobile money wallets and agency banking on behalf of numerous banks and mobile network operators.
• Card Services: Selcom is involved in both the issuing and acquiring of payment cards. It issues payment cards, including both physical and virtual cards, that can be linked to bank accounts or mobile money wallets. It also provides integrated solutions for merchants to accept card payments from customers.
• Selcom Microfinance Bank (SMFB): In a significant strategic move, Selcom became the majority shareholder of what was formerly Access Microfinance Bank. This acquisition allowed Selcom to launch its own financial service platform, Selcom Pesa, which offers a digital-first approach to banking with a focus on affordability and convenience. Selcom Pesa provides services such as money transfers, bill payments, savings, and loans.
• Selcom Pay (QR and Till Payments): Selcom offers a service that enables businesses to collect digital payments from all mobile wallets and banks using a unique till number and a QR code (TanQR).
• Qwiksend (Remittance): Selcom has a remittance platform for sending and receiving money across borders.

Partnerships and Technology

Selcom’s business model is heavily reliant on strategic partnerships. It has integrated its services with over 40 banks and all major mobile network operators in Tanzania, facilitating seamless bank-to-wallet and wallet-to-bank transfers. The company’s focus on technology is evident in its provision of APIs that enable businesses to integrate with Selcom’s payment services and its development of mobile apps like the Selcom Pesa and Selcom Huduma apps.