Absa Bank Uganda Introduces New Digital Credit Card Innovations

Absa Bank Uganda Responds to Changing Payment Trends with New Credit Card Features
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Absa Bank Uganda, in its commitment to enhancing access to credit card services in Uganda, has introduced two new digital credit card innovations: ‘Buy Now, Pay Later’ and ‘Credit Card-Initiated Payments.’ ‘Buy Now, Pay Later’ allows customers to make credit card payments and select flexible repayment plans at reduced interest rates, while ‘Credit Card-Initiated Payments’ enables customers to transfer funds from their credit cards to their personal accounts and Mobile Wallets, facilitating cash withdrawals or payments for goods and services when point-of-sale services are unavailable.

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Michael Segwaya, the Executive Director and CFO of Absa Bank Uganda, expressed, “This innovative product offering underscores our dedication to continuous innovation, providing high-quality, cost-effective banking services. It represents a pioneering solution, the first of its kind in the market, building upon our existing range of convenient and affordable digital financial services.”

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Segwaya added, “This product is designed to provide convenience to our customers, aligning with evolving consumption patterns characterized by a growing preference for convenience, modern lifestyles, holistic experiences, and value-oriented offerings.” These credit card innovations come in response to the increasing trend toward digital payment systems in Uganda, as more people embrace cashless transactions.


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