UK fintech Unlimit secures new PSP licence to expand into Tanzania
UK-headquartered fintech Unlimit is set to launch operations in Tanzania following its authorisation as a payments service provider (PSP) by the country’s central bank.
Unlimit receives PSP licence in Tanzania
The company, which specialises in cross-border business payments infrastructure, says it plans to leverage its new licence from the Bank of Tanzania (BOT) to introduce “new offerings such as business payments, merchant services and outbound payments” to the Tanzanian market.
The move boosts the company’s African expansion efforts after the fintech was approved as a payment solution service provider (PSSP) by the Central Bank of Nigeria in April last year, and it also received a licence from the Central Bank of Kenya the following June.
Unlimit, formerly known as Unlimint, says the introduction of its payments infrastructure into these three markets will “remove existing barriers to regional and global trade”, aligning with its goal of “eliminating financial borders around the world”.
Trevor Goott, director for Africa and India at Unlimit, describes the new licence as “a tremendous opportunity”, adding that the firm aims to “help consolidate the fragmented African payments landscape and drive broader economic growth” by supporting local businesses and entrepreneurs.
