NMB Bank Plc has marked a major milestone in Tanzania’s digital finance journey with the launch of NMB-Tap Wearables, the country’s first tokenised wearable payment solution.
The innovation positions NMB at the forefront of efforts of the government to modernise the national payment ecosystem, as the bank continues to champion secure, convenient, and inclusive cashless solutions.
Speaking at the launch event held yesterday in Dar es Salaam, NMB’s Chief of Retail Banking, Mr Filbert Mponzi, described the introduction of NMB-Tap as a landmark development in Tanzania’s transition towards a more digitally enabled economy.
He said the solution reinforces NMB Bank’s standing as a pioneer in cashless innovation and a national leader in delivering world-class financial services, while expanding access to modern payment tools across different customer segments.
Mr Mponzi added that NMB-Tap Wearables form part of the bank’s broader strategic agenda to revolutionise retail payments in Tanzania by combining cutting-edge technology with customer-centric design, ultimately supporting financial inclusion and the growth of the digital economy.
“This is a world-class innovation and a clear affirmation of our leadership in setting banking standards in the country. It reflects NMB Bank’s preparedness to continuously innovate and transform financial services, ensuring our customers benefit from secure, modern, and globally competitive solutions,” Mr Mponzi said.
Unveiled in partnership with global payments leader Mastercard, NMB-Tapy enables customers to make secure, fast and cash-free payments using everyday wearable items such as rings, bracelets and payment stickers.
With a simple tap, users can pay at supermarkets, fuel stations, hotels, restaurants and all Mastercard contactless-enabled point-of-sale terminals across the country.
The solution is designed for tech-savvy customers and those seeking greater convenience, eliminating the need to carry cash, wallets or even mobile phones.
Commenting on the technical and security features of the solution, Mr Mponzi explained that NMB-Pay wearables are securely linked to customers’ existing debit or credit cards using tokenisation technology, ensuring that sensitive
card details are neither stored on the device nor exposed during transactions, thereby significantly enhancing payment security.
“NMB-Pay is about empowering Tanzanians with smarter, safer and more convenient ways to transact that align perfectly with their modern lifestyles. As pioneers of wearable payments in Tanzania, we are removing barriers to digital adoption while delivering unmatched speed, simplicity and security.”
NMB’s Director of Investor Relations, Sustainability and Communications, Innocent Yonazi, said the innovation goes beyond the launch of a new product, describing it as a landmark step in Tanzania’s transition toward a truly customer-centric digital payments ecosystem.
He noted that NMB-Tap represents a strategic intervention in reshaping the future of payments in the country, fundamentally redefining convenience, speed and accessibility in banking services. According to Yonazi, the solution signals the next phase of banking in Tanzania, where technology is designed around customers’ daily needs rather than traditional banking limitations.
“Through our partnership with Mastercard, NMB-Tap introduces a payment experience that has never existed before in Tanzania, fundamentally transforming how transactions are made and setting a new benchmark for future banking in the country,” he said.
On his part, Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard noted that the rapid adoption of digital and contactless payments across the country demonstrates the public’s growing demand for secure, convenient, and efficient transaction methods.
He highlighted that NMB-Tap represents the latest in global payment innovation, leveraging some of the most advanced and secure tokenization technology available today, and underscored Mastercard’s commitment to delivering more cutting-edge solutions through its strategic partnership with NMB Bank.
“Tokenization technology powers NMB Tap by substituting sensitive card payment information with a unique encrypted token safely stored on the wearable device. This ensures cardholder data is never exposed during transactions, significantly enhancing payment security while maintaining speed and convenience,” Mr Alphonse noted.
