NMB Introduces Account-Linked Wearable Payments in Tanzania

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NMB Bank Plc has rolled out account-linked wearable payments in Tanzania, allowing customers to make contactless transactions using a ring, wristband or phone sticker linked directly to their bank accounts.

The product, branded NMB Tap Wearables, enables users to pay by tapping the wearable on any Mastercard-enabled point-of-sale terminal.

The launch places NMB among a small group of African lenders offering account-linked wearable payments as banks across the region expand digital channels beyond smartphones and cards.

The official launch was presided over by Mastercard Tanzania business manager Moses Alphonce James. NMB was represented by its retail banking leadership, led by Filbert Mponzi, alongside Innocent Enock Yonazi, who oversees investor relations, sustainability and communications.

How the product works

NMB Tap Wearables are issued in multiple form factors, including rings, bracelets and adhesive payment stickers that can be attached to a mobile phone. Once linked to a customer’s account, payments are completed through a simple tap at any contactless terminal on the Mastercard network.

The devices are designed to operate without batteries or charging, removing the need for a wallet, cash or smartphone at the point of payment. Acceptance covers supermarkets, fuel stations, hotels and restaurants across Tanzania.

Transactions are secured through tokenization, a technology that replaces card details with encrypted digital tokens. Sensitive information is not shared with merchants during payment, reducing exposure to fraud. All transactions are routed through Mastercard’s global processing infrastructure.

Why it matters

Wearable payments extend contactless banking into everyday accessories, targeting customers who want faster, hands-free transactions in settings such as gyms, commuting or routine shopping. For banks, the devices add another digital touchpoint without relying on smartphone connectivity or battery life.

Near Field Communication technology enables near-instant checkout, while the physical nature of a ring or wristband lowers the risk of misplacement compared with cards kept in wallets or bags. The contactless design also supports hygiene-conscious payment habits that have become more common since the pandemic.

NMB said the rollout is part of its focus on practical digital tools that fit into daily routines, as competition among East African banks intensifies around convenience, security and transaction speed.

Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.