State of Mobile Banking in Tanzania and Security Issues
Bossi Masamila · International Journal of Network Security & Its Applications · 2014
Mobile technology offers an unprecedented growth opportunity for banking industry in Tanzania.As the economy continues to prosper, increasingly affluent consumers and underbanked segments create demand for new financial products and services.Many consumers in Tanzania have mobile phones, but not bank accounts.Therefore, the mobile channel presents an effective way to connect them to the national financial grid.For the local banks, going mobile may increase banks opportunities to unlock the inherent potential of underbanked segments.This paper addresses the current state, future prospects, and security challenges to the usage of mobile banking in Tanzania.