James Kinyany, the acting Barclays Managing Director said the solution will save their corporate clients, NGOs and insurance companies from carrying huge amounts of money to pay their services providers.
"The solution will make it easier for insurance companies to settle claims, cooperative societies to disburse loans to members, companies to make payments of cash prizes to winners for the various consumer promotions and projects to disburse various funds to aid recipients. All will now be processed in secure environments authorized by the known account signatories through the
Once payment is made, funds are transferred into mobile wallet who receives an instant SMS notification confirming amount received and the relevant sender. The recipient will then be able to with draw funds at the nearest Airtel Mobile money agent country- wide
Kinyany noted that the mobile payment platform with Aitel will compel more Ugandans to join the banking system.
Airtel Uganda Director for the Mobile Money platform,
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