Due to the outbreak of Covid-19 pandemic across the world, several measures has been put in place and social distance was one of them. Uganda being one of the developing country in Africa, cash exchange as a form of transaction is still the order of the day as people hold and use it as they buy and sell.
However, we have also seen other mode of payment already introduced that allow people to make payment without using physical cash like the Visa Debit Card which majority of the banks in Uganda issues to their customers and we also saw in 2018 MTN Uganda introduced MTN MoMocard, a virtual card that makes it easy for MTN subscribers to do payment and shop online when they visit a website that accepts VISA debit card or MasterCard payments.
On the 24th July, 2020, Absa Bank Uganda officially launched their contactless card at Master Supermarket. The card enables Absa Bank customers to tap into fast, easy and safe contactless payments for everyday items. This is just another innovation that is turning banking on its head.
