Selcom

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.

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

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

• Payment processing services
• Mobile banking solutions
• Card issuing platform
• Agency banking services
• Digital payment infrastructure

Headquarters

HQ city

Dar Es Salaam

HQ country

Tanzania

HQ region

Africa

Offices32 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. 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.
2. 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).
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
10. 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

Go-to-market motion4 records

Distribution channels12 records

Marketing channels12 records

Core 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

Named customers16 records

Segments9 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration22 records

Feature12 records

Partnerships

30 partnerships are on record, tiered core and minor.

• VisacoreStrategic or Co-development Partner · 11 December 2025Selcom 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 TanzaniacoreChannel Partner/ Reseller/ Distributor · 4 April 2025Partnership 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 TanzaniacoreOEM/ Whitelabel/ Licensing Partner · 3 December 2024Joint 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.
• ShulesoftcoreTechnology or Integration · 8 October 2024Partnership 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)minorStrategic or Co-development Partner · 24 August 2023Collaborative workshop on strategic implementation of innovative agriculture solution. Selcom and Mastercard working together to address challenges faced by farmers and agribusinesses.
• Tigo TanzaniacoreStrategic or Co-development Partner · 21 March 2023Partnership 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 BankcoreStrategic or Co-development Partner · 2 September 2022Partnership for mobile banking interoperability, enabling customers to transfer funds between CRDB and other banks/mobile wallets through Selcom's payment platform.
• NALAcoreStrategic or Co-development Partner · 28 June 2022Strategic 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 TanzaniacoreStrategic or Co-development Partner · 4 April 2022Joint 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 PuricoreStrategic or Co-development Partner · 4 April 2022Insurance broker partner for Hifadhi Biashara microinsurance, providing tech-based solutions and customized insurance plans for Tanzanian consumers.
• FloCashminorChannel Partner/ Reseller/ Distributor · 19 January 2022Partnership to bring airfare payment services to Tanzania, enabling customers to pay for flights through Selcom's digital payment infrastructure.
• Akiba BankcoreStrategic or Co-development Partner · 23 September 2021Partnership to boost financial inclusion through branchless banking using Selcom's agent network and payment infrastructure.
• Sanlam and Howden Puri (Fuel Embedded Insurance)coreStrategic or Co-development Partner · 14 September 2021Three-way partnership to launch first-ever fuel embedded life insurance cover for Tanzanians, providing coverage when purchasing fuel at partnered stations.
• NMB BankcoreStrategic or Co-development Partner · 21 June 2021Partnership for mobile banking interoperability and agency banking services. Customers can transfer funds seamlessly between NMB and Selcom-connected networks.
• GSM RetailminorChannel Partner/ Reseller/ Distributor · 2 June 2021Partnership making GSM one of the first large-scale retailers in Tanzania to provide Wakala (agency banking) services through Selcom's platform.
• Ecobank TanzaniacoreStrategic or Co-development Partner · 16 April 2021Partnership to reach customers in untapped markets through branchless banking using Selcom's agent network and technology infrastructure.
• PharmAccessminorStrategic or Co-development Partner · 8 March 2021Partnership to empower women to access maternal care via MomCare wallets integrated with Selcom's payment infrastructure.
• Business Connexion (BCX)coreTechnology or Integration · 25 January 2019Partnership to launch Qwiksend platform enabling interbank fund transfers in real-time through digital channels. BCX provides technology expertise for regional remittance corridors.
• MastercardcoreStrategic or Co-development Partner · 10 March 2018Selcom 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 LabscoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP) assisting businesses with Selcom Payment Gateway integration. Contact: (+255) 718 178 197.
• IPF SoftwarescoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP) for Selcom API integration. Contact: [email protected].
• DephicscoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 752 030 032.
• Bridging TechnologycoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 686 294 862.
• Clix The AgencycoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 743 221 510.
• GetCore GroupcoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 745 978 899.
• Hype InteractivecoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 756 808 677.
• Kolorio InnovationscoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 762 777 888.
• Tektek SolutionscoreImplementation/ SI/ Consulting PartnerAccredited Selcom Integration Partner (SIP). Contact: (+255) 762 691 069.
• Bank of TanzaniacoreOthersRegulatory 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)coreOthersRegulatory 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

Market position

Competitive moat6 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/selcomtanzania
• Facebookfacebook.com/SelcomTanzania
• LinkedInlinkedin.com/company/selcom-tanzania
• Instagraminstagram.com/selcomtanzania

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Selcom