Uganda: Bank of Africa launches m-banking platform

Monday 28 April 2014 13:59 CET | News

Bank of Africa has unveiled a mobile banking platform dubbed Mobile Wallet which will enable Bank of Africa (BOA) account and non-account holders to transact/send and receive money using their mobile phones and Automated Teller Machines (ATMs), respectively, in Uganda.

The BOA platform also allows for card-free ATM withdrawals and is entirely independent of any telecommunication networks’ mobile money platforms.

A customer registers with Bank of Africa (BOA), with the mobile phone number as the account number which is managed via a mobile phone. The customer will then be required to load money onto his mobile wallet/phone from any of the 34 BOA branches countrywide or ATMs.

The recipient will receive a notification of the transaction showing the amount received and a reference number to be used to withdraw the money from any BOA ATM.

The recipient will be required to call the sender and get the PIN, which must be entered to authorise the withdrawal.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Uganda, Bank of Africa, m-banking platform, mobile banking, Uganda
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce

Industry Events