News Column


June 7, 2014

An MoU has been inked by Barclays Bank of Uganda with Airtel to offer a mobile bulk payment service to its corporate customers.

The Barclays Mobile bulk payment service makes it possible for a business or organization to make payments to a group of people, at a specific time, like paying employee wages or allowances.

The service will also make it easier for insurance companies to settle claims, cooperative societies to disburse loans to members, companies to make payment of cash prizes to winners for various consumer promotions, and projects to disburse various funds to aid recipients, authorized by the known account signatories via the Barclays online banking platform.

The clients of Barclays who will sign up for the Mobile Bulk Payments will be trained on how to prepare and make payments to each recipient using their mobile phone numbers. The recipients will receive SMS notification confirming the amount received and sender once a payment is made. The recipient will then able to withdraw funds at the nearest mobile money agent.

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Source: TendersInfo (India)

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