Category: Banks

dfcu bank to upgrade its ATM card and payment management system

Charles Layoo

dfcu Bank has announced a partnership with CR2, a global-leading banking software company to upgrade the Bank’s ATM, Card, and Payments Management Platform. The announcement was made during a press conference at dfcu Bank’s Headquarters in Nakasero, Kampala. dfcu Bank CEO, Mathias Katamba, highlighted the digital transformational journey the bank has undergone since 2017 and underpinned the Bank’s pillar of “becoming a digital and data-driven organisation” in line with overall customer strategy. “Digital transformation is at the core of our strategy, and partnering with CR2 a world leader in providing…

How to create an M-PESA GlobalPay Virtual Visa Card

Joseph Otim

M-PESA is widely used in Kenya and it the most used method of making payments and transaction by most people in Kenya. Despite the fact that it is most used within Kenya for transactions, the ability of this platform  to be used for  international money transfers and payments seems to be a little limited. We all know Safaricom has at one time tried to combine financial technology services like PayPal and MoneyGram but for the most part, the platform mainly has its highest ranks only in Kenya. Safaricom was able to incorporate the…

Differences Between MTN MoMo Card and Airtel Virtual MasterCard

Joseph Otim

Due to sudden growth in digital economy across the African continent, making online payments and cashless transactions are becoming more rightly agreed to use by private businesses by their clients. In early 2021, Airtel Africa officially made it clear that they were partnering with Mastercard, providing their clients across 14 African countries the opportunity to access and use Mastercard’s global system by bringing into place the Airtel Virtual debit MasterCard for the very first time after the one for MTN. This addition adds to the growing list of an ever growing…

DTB Launches “Digital Revolution Campaign” to Boost Financial Inclusion

Charles Layoo

Diamond Trust Bank Managing Director, Mr. Varghese Thambi while launching the digital campaign said that the digital revolution is a culmination of the bank’s intensified innovation with the aim of boosting financial inclusion through the offer of affordable banking services including; reduced transaction charges on payments and funds transfers. “Cognizant of the current economically challenging times, as DTB, we understand the customer’s need to reduce costs, make a saving and re-invest it. That is why we have rolled out the Digital Revolution campaign to meet our customer’s needs,” he noted.…

MTN, Airtel & Stanbic Bank lose Billions in Uganda’s Mobile Money Hack

Charles Layoo

This article is originally posted on ceo.co.ug Unidentified hackers broke into the systems of Pegasus Technologies, a company that integrates mobile money transactions between telcos, banks, and other local, regional, and international money transfer services, making off with a yet to be known sum, but said to be in billions of Shillings. The most affected firms are the leading telcos, Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank that also backs up most of the mobile money transactions. In a joint statement released today, 5th October 2020, Anne…

How Long Does a Wire Transfer Take?

Charles Layoo

This article is originally posted on Sigue. When you need to send money to a friend, family member, or business contact, a wire transfer is one of the fastest and most reliable ways to do so. Here’s what goes into sending a wire transfer, as well as how long a wire transfer will take. What is a wire transfer?  The term “wire transfer” refers to any type of electronic transfer of money. A bank wire is the most common, traditional bank-to-bank transfer. In these types of transfers, an amount goes…

Cheapest Ways to Send Money Internationally

Charles Layoo

This article is originally posted on Sigue. Whether you’re sending money overseas regularly, or just paying a few expenses while traveling, it’s important to find the cheapest way to send money internationally. Exchange and transfer fees can add up quickly. Here are some ways to transfer international remittances and other overseas payments at the lowest possible cost.  The SiguePay Mobile Money Transfer App Send money to more than 50 countries with SiguePay for either deposit to your recipient’s bank account or for a cash pick up and it is FREE…

Absa Bank Uganda launches contactless card at Master Supermarket

Charles Layoo

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…

DFCU Bank introduces KYEKYO which allows FREE MTN MoMo float top-ups

Charles Layoo

DFCU Bank, a commercial bank in Uganda has today announced a campaigned dubbed KYEKYO with dfcu Agent Banking. Kyekyo is a campaign dfcu Bank is running more so towards MTN mobile money agents. This campaign will allow MTN mobile money agents to enjoy FREE MTN MoMo float top-ups with over 200 dfcu Agents across the country and in their neighborhood. According to DFCU, they believe that they are in the business of creating possibilities, and so customers can now take advantage of FREE MTN MoMo floats top-ups at over 200…