MCash’s launched in Uganda

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M-Cash is under the Bank’s umbrella in Uganda to bring new service delivery channels to all Ugandan citizen. MCash’s inherent independence from mobile network operators offers an attractive business model that offers to Housing Finance Bank various alternative channels to bank the unbanked and service efficiently the under-served.

‘Unlike many other mobile payment products on the market, M-Cash allows anyone to open a bank account without restrictions to Mobile Network, software downloads, phone types or one method of authenticating account ownership. As a completely revolutionary product, M-Cash is a simple to use, completely secure solution that lets customers access and use their accounts 24/7 regardless of their mobile network with transactions that happen in real time,’ said Mme Edith Gasana Kutesa, the CEO of MCash Uganda.

‘It is the expectation that HFB and M-Cash will bring financial services closer to the customer and allow a massive outreach to Ugandans everywhere to have accounts and make better use of the financial services that are readily available to them. It is also expected that the market will quickly adopt the product as it is simple to use, convenient and completely secure’, says Mr Patrick Gordon Ngabonziza, MobiCash Group CEO.