DAR ES SALAAM, Aug. 4 -- THE Bank of Tanzania (BoT) has urged businesses to install electronic payment infrastructure ahead of mandatory digital payment regulations taking effect in January next year, as the government steps up efforts to build a cash-lite economy and strengthen financial inclusion.

The regulations require businesses and institutions operating in sectors including transport, retail, hospitality, education, tourism, real estate, motor vehicle sales and agriculture to adopt approved electronic payment systems. Existing operators have been granted a six-month transition period to comply before the rules take effect.

Once implemented, transactions traditionally settled in cash, including bus fares, school fees, hotel bills,...