Tanzania’s digital payments hit $11.6 billion as real-time system adoption rises

Tanzania’s real-time digital payments more than doubled in value in 2024, with the country’s national switch processing TSh29.9 trillion ($11.6 billion) in transactions by December, up from TSh12.5 trillion ($4.9 billion) in the previous year, according to the Bank of Tanzania’s (BoT) latest financial stability report.

The Tanzania Instant Payment System (TIPS), launched in 2020,…