Dar es Salaam, April 3 -- TANZANIA: TANZANIA is rapidly transitioning to a cashless society, driven by the growing adoption of digital payment systems across the country.

This shift is transforming business operations, with both small traders and large merchants embracing digital methods.

Innovations like the Tanzania Instant Payment System (TIPS) have revolutionised mobile money by enabling seamless cross-network transfers, reducing transaction costs and boosting adoption.

The Bank of Tanzania (BoT) said its Tanzanias National Payment System Annual Report for 2024 payments to business transactions have seen remarkable growth of 45.76 per cent last year from transaction volume up by 28.52 per cent in 2023.

The bank report said more th...