Uganda moving towards cashless economy

Nassali Fatiah

Nassali Fatiah

, Business

Despite a slow start, Uganda is slowly and gradually moving towards a cashless economy.

A cashless economy is one where Business is done without physical cash, except through digital.

In such an economy, purchases are made by the use of credit cards, cheques or direct transfer from one account to another.

Barclays bank and Shell Uganda have also taken the same direction of introducing a prepaid visa card.

The platform dubbed Easy Go card will enable customers of both entities to make payments for numerous serves such as refuelling, electricity bills and shopping at any Shell petrol station and anywhere around the world using the visa debit card.

The Easy Go card according to Gilbert Assi the Managing director Vivo Energy, will also allow customers make transactions across mobile money platforms.

“Often we see Boda Boda riders moving with lots of cash but with the easy go card they can go at any shell station and bank their money on the card,” said Assi.

The managing director Barclays bank, Rakesh Jha, said the card will also help both the banked and unbanked population have access to cashless fuel services anywhere off the counter.

“This is a foundation that will help Ugandan be included in the formal banking, people without experience in banks shall be automatic be included in the system” said Jha.

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