dfcu Bank, a leading financial institution, has announced a partnership with Pesapal, a well-known secure payment service provider. This collaboration aims to introduce Merchant Acquiring services that will enable seamless Card and Mobile Money payments for dfcu Bank’s customers.
The partnership is set to meet the rising demand for digital payment solutions and provide customers with a range of electronic payment options to facilitate various transaction requirements.
The increasing trend of digital transformation and the growing acceptance of electronic payments in Uganda and around the world reflect a preference for these services among both individuals and businesses.
Businesses that do not offer electronic payment services risk losing business and revenue to those who have adapted their operations to meet their customers’ needs.
According to the quarterly financial stability review, digital payments in Uganda have experienced significant growth, with a 22.02 percent increase in the year ending in 2022.
The number of digital payment transactions has also increased, rising from 2.74 million in 2021 to 3.34 million in 2022.
In 2021, dfcu Bank announced a campaign dedicated to fulfilling its digitalization agenda. The institution highlighted that delivering real-time banking services with the aid of technology would be a key objective.
Through the partnership with Pesapal, dfcu Bank will offer an additional payment processing and acceptance solution. This will enable merchants who join Pesapal to accept card payments and mobile money from dfcu Bank customers.
Pesapal is renowned for its secure and efficient digital payment solutions, offering an all-in-one digital payment platform for businesses and customers to access a wide array of payment options, whether online or at physical merchant outlets.
Faridah Nalubega, the Manager – Cards & Money Transfers at dfcu Bank, emphasized that the collaboration with Pesapal would empower more businesses to accept and process electronic payments using Cards (Visa/Mastercard) and Mobile Money (MTN and Airtel).
“With this partnership, our goal is to leverage Pesapal’s infrastructure to enable faster, more convenient, and reliable payment processing for our customers, wherever they are transacting across the country,” Nalubega said.
She added, “We will work with various businesses to support them in developing the necessary infrastructure to accept and process payments with Pesapal as the intermediary. We believe that the demand for electronic payments has awakened business owners to the necessity of having these services available at their points of operation.”
Maureen Namoma, Pesapal’s Country Manager, emphasized their core focus on simplifying payments.
“This move is a commitment to our customers and a promise of enhanced services as we build towards a more accessible financial future,” she observed.
“Partnering with dfcu Bank will allow us to meet the immediate needs of thousands of Ugandan customers. We expect that both businesses with physical locations and those operating online will see the rewards of integrating our offering into their services.”
This partnership adds to dfcu Bank’s range of customer-centered solutions, including instant issuance of Visa Debit Cards, Smart ATMs with Cardless Deposit functionalities, and a selection of Credit Cards.
dfcu Bank continues to invest in and provide partnerships, products, and services aimed at transforming the lives and businesses of Ugandans.
