Standard Chartered introduces new online payment system

Wednesday January 15 2020

By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

Dar es Salaam.  Standard Chartered Bank Tanzania has introduced an online payment system that supports and expedites government payments for corporates.  

Dubbed ‘Straight2Bank-NextGen’, the online platform is an enhancement of the bank’s award-winning suite of electronic channels that enables the bank’s clients to effectively run their cash management services.

The system will now include the capability to make government payments on the Government electronic Payment Gateway (GePG).

Speaking at a symposium organised by the ministry of Finance and Planning in Dodoma, the bank’s specialist on online banking and government payments, Mr Mwiga Kapya, said that the bank had considered a number of key aspects in coming up with the enhanced platform.

“When it comes to any kind of online transactions what matters most is the aspect of instant confirmation of payments and receipt for both the sender and the receiver,” said Mr Kapya in a press released availed to The Citizen yesterday.  

With Straight2Bank- NextGen, he stressed, government institution receives an immediate notification as soon as a payment is made by an individual or company.

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On the other hand, he added, the sender also receives an instant receipt on the Straight2Bank-NextGen platform which they can keep for the records.

 He said the platform also automatically reconciles all transactions made on government accounts and so is avoiding the hassle of running manual reconciliations by the respective entity.

“With the enhancements and end to end automation of payments, there are no errors made when clients make payments using the platform,” assured Mr Kapya.

 “Standard Chartered Bank continues to leverage on its digital capabilities to further support individuals and businesses in their business transactions which ultimately involve government obligations and tax payments.

“As we roll out the new platform we will continue to work closely with various government institutions to widen the scope thus enabling the Bank’s clients to meet their government payment obligations seamlessly.”

Mr Kapya also highlighted that the platform caters for individuals who are not the Bank’s clients and urged the public to visit any of the bank’s branches in Dar es Salaam, Arusha and Mwanza should they need to make government payments.