Visa, a global leader in digital payments has announced its latest plans to grow innovation solutions in Uganda by introducing Visa Pay, a digital payment solution that allows its users to send and receive money using a virtual card for online payments and transactions.
Sullivan Godfrey - Senior Vice President, products & solutions for Central and Eastern Europe, Middle East and Africa (CEMEA) during an interview noted that operating in 200 markets, Visa enables payments whenever anyone goes.
He also hailed Uganda’s market.
“This market has enormous potential. We are here to ensure that global payment standards can be applied locally, whether in Kampala or in rural communities, bringing security, trust and convenience to every transaction,” Sullivan said.
. “For Uganda, Visa Pay allows users to access digital payments instantly, without waiting for physical cards. Over the next three to five years, we expect people’s wallets to become lighter as digital transactions become the norm — secure, trusted, and convenient.”
He also highlighted that collaboration with local banks, mobile money providers, and fintech companies will be central to Visa’s expansion strategy in Uganda.
“The growth in digital payments depends on strong partnerships. We are working closely with banks, mobile money providers, and fintechs to make transactions transparent. This ensures even small business operators can transact digitally and access credit, which is critical for economic growth.”
Currently, around 66 percent of transactions in Uganda are still cash-based. Visa sees this as an opportunity to promote a more inclusive, cashless economy that reduces risks and increases traceability.
“Cash is our real competitor. Digital payments are not only more convenient and secure, but they also provide transparency, which is beneficial for both consumers and businesses,” said Michael Berner, the General Manager & Vice President for Southern and Eastern Africa at Visa.
Innovating for Local Realities
According to officials, Visa is rolling out a suite of innovations to meet the specific challenges of the Ugandan market.
The EMV chip technology allows transactions to be completed even in areas with unreliable internet connectivity. Visa QR enables merchants to accept payments simply by scanning a code, reducing dependence on cash.
Meanwhile, the Visa Accept tap-to-phone solution, expected in the next three months, allows users to receive payments directly on their smartphones, bypassing the need for traditional payment terminals.
“Visa Accept will be a game-changer for small and medium-sized businesses, allowing them to receive payments quickly and securely using only a smartphone,” Sullivan said.
Michael Berner, the General Manager & Vice President for Southern and Eastern Africa emphasised the company’s commitment to cybersecurity as digital payments expand.
“To counter cyber threats, Visa is investing heavily in data security and continuous software upgrades,” he said. “Our goal is to maintain trust while enabling a secure and seamless payment experience for all users.”
Officials said Visa’s strategy in Uganda goes beyond payments, exploring solutions such as stablecoins for cross-border transactions, which can reduce remittance costs for the country’s large diaspora. Faster, cheaper, and secure transactions can improve liquidity for banks and small businesses alike.
“Uganda has a vibrant market of small merchants who import goods from abroad. Stablecoins could simplify and speed up these cross-border payments,” Berner said.
“Similarly, remittances from the diaspora often cost 7 to 12 percent — we want to make this faster and cheaper for consumers.”
Visa is also engaging in regional initiatives, reflecting the growing integration of East Africa.
The company says it has strong representation in Uganda, Tanzania, and Kenya, complemented by a regional structure that covers products, risk, and client management and while strategy is coordinated regionally, execution is local to meet the unique needs of each market.
“Digital payments are not just about replacing cash. They are about enabling financial inclusion, unlocking access to credit, and supporting economic growth,” Godfrey said.