Ugandian Banks to Interlink ATMs

Friday 29 October 2004 10:55 CET | News

Ugandian bank customers will be able to use Automatic Teller Machines owned by any bank in the country, starting in January 2005.

Bank of Uganda has given a five-year license to Bankom Ltd to connect all bank ATMs and other electronic payment systems through a single central switch. For customers, the main advantage is convenience. It will be possible to use any ATM nearest to wherever one is located, load money on a mobile phone by just sending an SMS to your bank, pay bills like rent and school fees via the phone, and even withdraw cash from your bank and account using the cash machines at retail outlets. Even those without bank accounts will be able to pay bills through the ATMs. The machines will also accept credit cards like Visa, Mastercard, etc, making it easy for people who hold accounts outside Uganda to access them using the ATMs.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce