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New products launch in December at BOA-TANZANIA

Launch of Bancassurance

On the 8th of December 2021 the bank officially launch Bancassurance line of Business dubbed “BIMA KWANZA” to the general Public, the service comes as an added advantage providing insurance services to the bank’s clients making BANK OF AFRICA-TANZANIA a one stop center for financial needs but also a new source of revenue to the bank.

Launch of Prepaid Card & Interoperability Features

On 22nd December 2021, BANK OF AFRICA-TANZANIA marks yet another milestone as the bank officiate the introduction of Prepaid Cards with new features and the interoperability feature of cards to the General Public,

These new interesting feature (interoperability) for the ATM cards are implemented in both the bank’s VISA and UMOJA SWITCH cards. The feature will enable the banks customers to be able to perform transactions in any of the 18 African countries in which the bank is present which extends from West, East, and Central and Africa.

The interoperability feature is a services established by BOA group that will allow all the ATM cards for Bank of Africa customers to be accepted in BOA group network without rooting the transactions to international switch like visa, instead we will use our own BOA switch for processing the transaction and settlement.

Conversely, Prepaid cards provide a relatively simple way to pay for purchases without taking out a line of credit or using a bank account. They pose less risk since one has to load money onto the card in order to use it — perfect if you’re worried about overspending or misplacing your debit or credit card and giving fraudsters access to your debit or credit limits.

The beauty of using BANK’s prepaid paid card is that, it does not need to be linked to any of customers’ account to access this service. One can use the prepaid card to make purchase on line, shopping, payments of bills or use within family members.

The launch of the new card and the new interoperability feature is a demonstration of BANK OF AFRICA’s commitment to providing world-class products and services to its clients.