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Publish Date : 11-Jun-2014

Barclays Bank (Uganda) has announced the signing of an agreement with Airtel, the mobile network firm. The deal will help to deliver a mobile bulk payment solution for the bank’s corporate customers countrywide.

According to the James Kinyany - the acting Barclays Managing Director, the solution will save their corporate customers, NGOs and insurance firms from carrying huge amounts of money to pay their services providers.

Kinyany further stated "The solution will make it easier for insurance companies to settle claims, cooperative societies to disburse loans to members, companies to make payments of cash prizes to winners for the various consumer promotions and projects to disburse various funds to aid recipients. All will now be processed in secure environments authorized by the known account signatories through the Barclays online banking platform Barclays Integrator."

As per the agreement, Barclays customers will have to subscribe for the mobile bulk payments solution. After the signing up, Bank personnel will guide them on how to prepare and make payments to each recipient using their mobile phone numbers.

Once payment is made, funds are transferred into mobile wallet who receives an instant SMS notification confirming amount received and the relevant sender. The recipient will then be able to with draw funds at the nearest Airtel Mobile money agent country- wide. Kinyany mentioned that the mobile payment platform with Aitel will constrain more Ugandans to join the banking system.

Airtel Uganda Director for the Mobile Money platform, Nuhu Kanyike stated, "With this platform people, in the private sector can make their payment easily especially the contractors instead of spending a lot of time lining up in the banking halls as it has been this will improve the payment system to the casual labourers and also making orders for the supply of goods and services."

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