Barclays Bank (Uganda) has signed a deal with Airtel, the mobile network firm, to provide a mobile bulk payment solution for the bank’s corporate customers countrywide
Airtel Uganda and Barclays Bank of Uganda Limited have today signed a Memorandum of Understanding which seals a deal to provide a mobile bulk payment solution to its corporate customers. The Barclays Mobile bulk payment solution is an innovative mobile transfer solution that makes it possible for a business or organization to make payments to a group of people, at a specific time.
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 Barclays online banking platform Barclays Integrator,” Kinyany said
Barclays clients will have to sign up for the mobile bulk payments solution. Bank personnel will then train them on how to prepare and make payments to each recipient using their mobile phone numbers.
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
Airtel Uganda Director for the Mobile Money platform, Nuhu Kanyike said, “With this platform people, in the private sector can make their payment easily especially the contractors instead of spending a lot of time lining up in the banking halls as it has been this will improve the payment system to the casual labourers and also making orders for the supply of goods and services.
Commenting on this bulk payment innovation, Airtel Managing Director, Arindam Chakrabarty said Airtel Uganda was proud to partner with one of the longest standing financial institutions in the country, in the creation of a service that will bring much needed relief to business owners and organisations.