Selcom
Selcom is a Tanzanian fintech and regulated Payment Service Provider operating a unified payments, agency banking, card issuing, remittance, and digital banking platform connecting 40+ banks, six mobile money wallets, 60,000+ agents, and 100,000+ merchants.
- Company typePrivate
- Founded2001
- HeadquartersDar Es Salaam, Tanzania
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What Selcom does
Selcom (legally Selcom Paytech Limited) is a Tanzanian-headquartered fintech founded in 2001 that operates as a payments services hub connecting banks, mobile network operators, card networks, agents, merchants, and consumers on a single platform. The company is regulated by the Bank of Tanzania as a Payment Service Provider and by TCRA, is a Principal Mastercard Member with direct MPGS integration, and is affiliated with Visa Direct. Its product suite spans Selcom Pesa (mobile wallet and digital bank on app and USSD), Selcom Lipa / TanQR (EMVCo-standard QR and till acquiring), Selcom Huduma (agency banking and bill collection), Card-as-a-Service (white-label issuing for banks), Qwiksend (international remittance hub), QwikChap POS hardware, and duka.direct e-commerce, with consumer-facing modules for credit (Jisoti), BNPL (Selcom Lipa Later), savings (Kibubu), loyalty (Qwikrewards), and microinsurance distribution (Hifadhi Biashara).
The business operates a platform-plus-modules architecture on proprietary REST APIs, with an interoperability engine linking 40+ bank partners, six mobile money wallets (Airtel Money, M-Pesa, T-Pesa, HaloPesa, AzamPesa, Mixx by Yas), and 100,000+ merchants via a single EMVCo-compliant QR rail. Distribution is anchored by what the company describes as the largest independent agent network in Tanzania — 60,000+ active Huduma agents — supplemented by 19+ branded Experience Centers nationwide following an aggressive 2025-2026 rollout. Revenue is generated primarily through transaction fees (1% on mobile money, 2% on card payments, 2.5% on bulk disbursements, all VAT-inclusive), with secondary streams from card issuance, agency banking revenue share, remittance margin, insurance and lottery distribution commissions, e-commerce marketplace fees, and ancillary POS hardware sales; pricing is uniformly pay-as-you-go with no subscription fees. In June 2024, Selcom acquired Access Microfinance Bank and rebranded it as Selcom Microfinance Bank Tanzania Limited, converting the group into a regulated banking entity and enabling embedded deposit, lending, and broader financial-services expansion.
Selcom firmographics
Firmographics- Name
- Selcom
- Legal name
- Selcom Paytech Limited
- Website
- https://selcom.net
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Selcom is a Tanzanian fintech and regulated Payment Service Provider operating a unified payments, agency banking, card issuing, remittance, and digital banking platform connecting 40+ banks, six mobile money wallets, 60,000+ agents, and 100,000+ merchants.
- Ownership category
- akta.pro rank
Selcom industry classification
Industry- Product category
- Payment Processing & Financial Technology
- NAICS
- Credit Card Issuing (522210), Sales Financing (52222)
- SIC
- Finance Services (6199), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Cross-Border Payment Orchestration & Routing (FSAGAKAJ)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods (FSAGAKAD)
Keywords
Where Selcom is headquartered
LocationHeadquarters
- HQ city
- Dar Es Salaam
- HQ country
- Tanzania
- HQ region
- Africa
Offices32 records
Markets served
Selcom business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Payment Transaction Fees: Selcom earns transaction fees on every payment processed through its network. Fees are charged to merchants for card transactions (2% VAT inclusive), mobile money payments (1% VAT inclusive), and bill payments. The company also earns interchange fees on card transactions as a Principal Mastercard member.
- Card Issuing Services: Revenue from card-as-a-service (CaaS) offerings where banks and financial institutions pay for the ability to issue debit/prepaid cards through Selcom's platform. Card issuance fees are charged to customers (TZS 2,500 per card).
- Agency Banking Revenue Share: Revenue sharing with banks and financial institutions for agency banking services. Agents perform transactions (cash deposit, withdrawal, bill payments) and receive commissions, with Selcom earning a share.
- Merchant Acquiring Services: Fees from merchants using Selcom Lipa for accepting digital payments via QR codes, till numbers, and card terminals. Merchants pay transaction fees for each payment received.
- Bulk Disbursement Services: Charges for bulk money disbursement services: 2.5% per transaction (excluding VAT), with minimum TZS 1,000 and maximum TZS 5,000 per transaction.
- Remittance Services: Revenue from international money transfers through Qwiksend IMT hub. Fees are charged for cross-border fund transfers with competitive exchange rates. Partnerships with NALA for inbound remittances and global payout network.
- E-commerce Marketplace: duka.direct e-commerce platform generating revenue from merchant transactions, delivery fees, and potentially commission on sales. Over 300 merchants on the platform.
- Insurance Distribution: Revenue from distributing insurance products (Hifadhi Biashara microinsurance at TZS 7,000/month) through Selcom Huduma agents and duka.direct. Partnership with Sanlam and Howden-Puri.
- POS Terminal and Accessory Sales: Revenue from selling POS machines and accessories. Agents pay a deposit of TZS 100,000 for POS terminals. Transfer fees apply for transactions.
- API and Integration Services: Revenue from businesses integrating with Selcom Payment Gateway through accredited Integration Partners (SIPs). Integration charges are at the discretion of the SIP.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Mobile Money Transactions - 1% VAT Inclusive |
| Transaction based/ take rate | Pay-as-you-go | Card Transactions - 2% VAT Inclusive |
| Transaction based/ take rate | Pay-as-you-go | Bulk Disbursement - 2.5% (Min TZS 1,000, Max TZS 5,000) |
| One time/ perpetual license | One time/ perpetual license | POS Terminal Deposit - TZS 100,000 |
| Subscription | Monthly | Hifadhi Biashara Microinsurance - TZS 7,000/month |
| One time/ perpetual license | One time/ perpetual license | PUMA Elite Card - TZS 15,000 (includes TZS 10,000 balance) |
| One time/ perpetual license | One time/ perpetual license | Selcom Pesa Mastercard - TZS 2,500 issuance fee |
| Outcome Based/ Performance | Pay-as-you-go | Selcom Lipa Later - Interest-free credit up to TZS 200,000 |
| Usage-based | Pay-as-you-go | Jisoti Digital Credit - TZS 500 to TZS 500,000 |
Go-to-market motion4 records
Distribution channels12 records
Marketing channels12 records
Selcom product offering
Product offeringCore offering
Selcom operates a payment services hub connecting banks, mobile wallets, and card networks across Tanzania and East Africa. Its core offerings include Selcom Pesa (digital bank for consumers), Selcom Pay/Selcom Lipa (merchant acquiring via QR/till numbers), Selcom Huduma (agency banking and revenue collection through 60K+ agents), Card-as-a-Service for banks, Qwiksend international remittance hub, and duka.direct e-commerce marketplace. The company processes over $1.5B in annual transaction value, serves 40+ bank partners, and supports 100K+ merchants through its unified payment infrastructure.
Product overview
Selcom is a Pan-African cross-segment financial and payment services provider operating a platform-plus-modules architecture. The core ecosystem is anchored by Selcom Pesa (Tanzania's first digital bank offering a mobile app and USSD access for money transfers, bill payments, savings via Kibubu, and a branded Mastercard), Selcom Lipa/TanQR (merchant acquiring via QR codes and till numbers), Selcom Huduma (agency banking and bill payment collection through 60K+ active agents), Card Issuing (card-as-a-service for banks), Qwiksend (international remittance hub), and duka.direct (app-based e-commerce marketplace). Supporting modules include Selcom POS/QwikChap point-of-sale terminals, Banking Solutions for 25+ bank partners, Scheme Affiliations (Mastercard principal member and Visa Direct), an API ecosystem backed by accredited Integration Partners, physical Experience Centres across Tanzania, and financial products like Qwikrewards loyalty, Kisoti digital credit, Selcom Lipa Later buy-now-pay-later, Hifadhi Biashara microinsurance, and Kibubu savings. The company processes over $1.5B in annual transaction value across 40+ bank partners, 25K+ POS agents, and 100K+ merchants.
Differentiator
Problem solved
Functional benefit
Brands
- Selcom Pesa: Digital wallet and mobile banking application positioned as Tanzania's first digital bank with low transaction charges.
- duka.direct
- Selcom Huduma
- Selcom Lipa
- Qwiksend
- Selcom Card
- Qwikchap
- Kibubu
Products and services
- Selcom Pesa (Digital Bank) Tanzania's first digital bank — a consumer-facing mobile app and USSD-accessible platform providing money transfers, bill payments, QR code payments, savings (Kibubu), microcredit (Jisoti), Qwikrewards loyalty, and a Selcom Pesa Mastercard for ATM withdrawals, online payments, and worldwide POS transactions. Targeted at individual consumers including unbanked and underbanked populations.
- Selcom Pay / Selcom Lipa (Merchant Acquiring) Merchant acquiring service enabling businesses to accept digital payments via QR codes (TanQR), till numbers, and card terminals from all mobile wallets and bank accounts in Tanzania. Connects to EMVCO-compliant QR standards used across East Africa. Includes Pay-by-Link for remote card collection. Targeted at small, medium, and large merchants.
- Selcom Huduma (Agency Banking & Revenue Collection) Agency banking and revenue collection platform operating through 60,000+ active agents across Tanzania. Services include cash-assisted bill payments (utilities, airtime, TV subscriptions, insurance, government, ticketing, betting) and bank agent services (cash deposit, withdrawal, bank statements) for underserved populations. Targeted at billers, government entities, banks, and consumers without branch access.
- Card Issuing (Card-as-a-Service) White-label card-as-a-service (CaaS) platform enabling banks and financial institutions to issue virtual and plastic debit/prepaid companion cards linked to stored value accounts (bank account, mobile wallet, or prepaid funds). Powered by Selcom REST APIs with Mastercard worldwide acceptance, HCE mobile contactless payments, 3DS e-commerce fraud protection, and MDES tokenization. Targeted at banks and financial institutions.
- Qwiksend (International Remittance Hub) International remittance hub enabling individuals and businesses to send and receive money across borders. Operates as an approved IMT (International Money Transfer) hub with 25+ IMT partners, competitive exchange rates, and a network of payout agents across multiple countries. Integrates with Visa Direct and Mastercard Send for payment facilitation. Targeted at Tanzanian diaspora and international remittance senders.
- Banking Solutions (Mobile Banking Platform) White-label mobile and digital banking platform for banks offering mini-statements, balance enquiries, cheque services, fund transfers, merchant payments, agency/branchless banking, and bill payments. Delivered via USSD and mobile application, connected to 25+ banking partners. Targeted at banks wanting to provide value-added digital services to their customers.
- duka.direct (E-commerce Marketplace) App-based e-commerce marketplace in Tanzania connecting 300+ buyers and sellers across food delivery, grocery, fuel and gas delivery, insurance, and utility payments. Licensed by TCRA. Includes order fulfillment, digital payments, and real-time tracking. Targeted at Tanzanian consumers and merchants seeking digital commerce.
- Selcom POS / QwikChap (Point-of-Sale Terminals) Multi-service point-of-sale terminal hardware enabling merchants and agents to perform card payments, till/TanQR collections, push USSD payments, government payments, ticketing, agency banking, insurance, and betting collections/payouts. Available as Smart POS (P10) and traditional POS devices. Agents acquire terminals with a TZS 100,000 deposit. Targeted at merchants, agents, and retailers across Tanzania.
Quantifiable outcome
- Transaction fees up to 60% lower than other providers
- +5 more outcomes
Companies that use Selcom
Customer profileNamed customers16 records
Segments9 records
Ideal customer profiles4 records
Selcom technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration22 records
Feature12 records
Selcom partnerships and signals
Strategic signalPartnerships
30 partnerships are on record, tiered core and minor.
- VisacoreSelcom has affiliation with Visa Direct for payment facilitation, directly integrated for outbound payment services. Partnership enables Pay by Link service launch for merchants to accept card payments remotely.
- National Lottery TanzaniacorePartnership enables lottery ticket purchases and winnings payouts through Selcom's 30,000+ agents, Selcom Pesa, and duka.direct. Brings lottery services to previously unserved populations.
- PUMA Energy TanzaniacoreJoint launch of PUMA Elite Card, a white-label prepaid card accepted at 80+ PUMA stations nationwide. Selcom provides card issuing infrastructure, payment processing, and agent network for top-ups.
- ShulesoftcorePartnership to launch Universal Control Number (UCN) service for school fees collection. Enables payments via Selcom's 30,000+ agents and mobile money (TigoPesa, M-Pesa, Airtel Money, AzamPesa).
- Mastercard (Agriculture Solution)minorCollaborative workshop on strategic implementation of innovative agriculture solution. Selcom and Mastercard working together to address challenges faced by farmers and agribusinesses.
- Tigo TanzaniacorePartnership with Mastercard to enable seamless digital payments with virtual card. Tigo Money customers can make online payments globally with virtual Mastercard issued through Selcom's platform.
- CRDB BankcorePartnership for mobile banking interoperability, enabling customers to transfer funds between CRDB and other banks/mobile wallets through Selcom's payment platform.
- NALAcoreStrategic partnership to power inbound remittances from UK and USA to Tanzania in real-time to mobile money wallets and bank accounts. NALA users can transfer money to Selcom-connected banks and mobile wallets. Tanzania received $570 million in remittances in 2021.
- Sanlam General Insurance TanzaniacoreJoint launch of Hifadhi Biashara microinsurance product for small businesses. Sanlam provides insurance products and claims processing; Selcom distributes through 25,000+ agents and duka.direct platform.
- Howden PuricoreInsurance broker partner for Hifadhi Biashara microinsurance, providing tech-based solutions and customized insurance plans for Tanzanian consumers.
- FloCashminorPartnership to bring airfare payment services to Tanzania, enabling customers to pay for flights through Selcom's digital payment infrastructure.
- Akiba BankcorePartnership to boost financial inclusion through branchless banking using Selcom's agent network and payment infrastructure.
- Sanlam and Howden Puri (Fuel Embedded Insurance)coreThree-way partnership to launch first-ever fuel embedded life insurance cover for Tanzanians, providing coverage when purchasing fuel at partnered stations.
- NMB BankcorePartnership for mobile banking interoperability and agency banking services. Customers can transfer funds seamlessly between NMB and Selcom-connected networks.
- GSM RetailminorPartnership making GSM one of the first large-scale retailers in Tanzania to provide Wakala (agency banking) services through Selcom's platform.
- Ecobank TanzaniacorePartnership to reach customers in untapped markets through branchless banking using Selcom's agent network and technology infrastructure.
- PharmAccessminorPartnership to empower women to access maternal care via MomCare wallets integrated with Selcom's payment infrastructure.
- Business Connexion (BCX)corePartnership to launch Qwiksend platform enabling interbank fund transfers in real-time through digital channels. BCX provides technology expertise for regional remittance corridors.
- MastercardcoreSelcom is a Principal Mastercard Member with direct integration to Mastercard Payment Gateway Services (MPGS) for local and international payments, MasterCard Cross-border Services for outbound remittances, and Mastercard Send for inbound remittances. This is a foundational partnership enabling Selcom's card issuing and acquiring capabilities.
- Lateral LabscoreAccredited Selcom Integration Partner (SIP) assisting businesses with Selcom Payment Gateway integration. Contact: (+255) 718 178 197.
- IPF SoftwarescoreAccredited Selcom Integration Partner (SIP) for Selcom API integration. Contact: [email protected].
- DephicscoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 752 030 032.
- Bridging TechnologycoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 686 294 862.
- Clix The AgencycoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 743 221 510.
- GetCore GroupcoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 745 978 899.
- Hype InteractivecoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 756 808 677.
- Kolorio InnovationscoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 762 777 888.
- Tektek SolutionscoreAccredited Selcom Integration Partner (SIP). Contact: (+255) 762 691 069.
- Bank of TanzaniacoreRegulatory body licensing and overseeing Selcom's financial services operations. Selcom is recognized by Bank of Tanzania as a leading enabler of mobile banking and payment service provider.
- TCRA (Tanzania Communications Regulatory Authority)coreRegulatory body licensing Selcom's communications and online commercial activities. duka.direct holds official TCRA license for e-commerce operations.
Scale indicators14 records
Recent moves9 records
Expansion highlights6 records
Selcom competitors and assessment
Company assessmentMarket position
Competitive moat6 records
Key risks1 record
Key highlights7 records
Customer concentration
Selcom social profiles
Digital presenceSelcom compliance and trust
Trust signalCompliance5 records
Selcom financial estimates
Financial estimateRevenue estimate
Valuation estimate
Selcom leadership team
Management profileNumber of profiles
Profiles4 records
Selcom subsidiaries and ownership
Company hierarchySubsidiaries3 records
Selcom funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Selcom M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Selcom
What does Selcom do?
Selcom operates a payment services hub connecting banks, mobile wallets, and card networks across Tanzania and East Africa. Its core offerings include Selcom Pesa (digital bank for consumers), Selcom Pay/Selcom Lipa (merchant acquiring via QR/till numbers), Selcom Huduma (agency banking and revenue collection through 60K+ agents), Card-as-a-Service for banks, Qwiksend international remittance hub, and duka.direct e-commerce marketplace. The company processes over $1.5B in annual transaction value, serves 40+ bank partners, and supports 100K+ merchants through its unified payment infrastructure.
Is Selcom a public or private company?
Selcom is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Selcom founded?
Selcom was founded in 2001. It employs 51 to 100 people.
Where is Selcom based?
Selcom is headquartered in Dar Es Salaam, Tanzania, in the Africa region.
How does Selcom make money?
Ten revenue lines are on record. Payment Transaction Fees are the primary driver. The others are card Issuing Services, agency Banking Revenue Share, merchant Acquiring Services, bulk Disbursement Services, remittance Services, E-commerce Marketplace, insurance Distribution, POS Terminal and Accessory Sales and API and Integration Services.
Does Selcom have an API?
Yes. Selcom offers a REST API-driven platform for payment processing, card-as-a-service (CaaS), and digital banking. The API enables merchants and financial institutions to integrate Selcom's payment gateway for accepting local and international payments, issuing cards, agency banking, and bill payments. APIs are accessible via accredited Integration Partners (SIPs). Developer documentation is available at developers.selcommobile.com. Developer documentation is at developers.selcommobile.com/#introduction.
What industry is Selcom in?
Selcom's product category is Payment Processing & Financial Technology. Its primary akta.pro industry code is FSAGAKAJ, Cross-Border Payment Orchestration & Routing, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522210 and its SIC code is 6199.