This expansion follows similar moves into Nigeria and Kenya in 2023, solidifying Unlimit’s position as a major player in African payment solutions.

The new license allows Unlimit to introduce a range of services to Tanzanian businesses, including business payments, merchant services, and outbound payments.

This expansion aligns with Unlimit’s goal of eliminating financial borders globally. By integrating their proprietary payment infrastructure, Unlimit aims to streamline regional and international trade for Tanzanian entrepreneurs.

“We are thrilled to bring our advanced payment solutions to Tanzania,” said Trevor Goott, Director of Unlimit for Africa and India.

“Through our custom-built digital payment solutions, we believe we can significantly contribute to consolidating Africa’s fragmented payments landscape and fostering economic growth by empowering local businesses and entrepreneurs. We’re here for the long haul.”

Unlimit’s entry into Tanzania positions them to compete with established fintech companies like Flutterwave, Lemfi, Payday, and Grey Finance.

In a separate development, Unlimit announced a strategic partnership with Union Pay International (UPI) in November 2023.

This collaboration aims to accelerate the growth of Unlimit’s Banking-as-a-Service (BaaS) platform by allowing BaaS clients to integrate UPI cards into their offerings.