Fincra secures PSP licence in Tanzania. Here is what it means
- Fincra has secured a Payment System Provider license from the Bank of Tanzania.
- The company aims to build integrated payment rails for Africa, similar to Flutterwave.
- Fincra has rapidly acquired payments and remittance licenses across West, South, and East Africa in the last two years.
Fincra's expansion into Tanzania represents a significant opportunity for businesses seeking efficient payment solutions in East Africa. However, the sustainability of their pricing model in comparison to traditional banks remains to be seen, especially considering the costs associated with securing licenses and the inherent risks of fintech operations.
