Exim Bank Uganda has introduced Exim Global Pay, a service that allows individual and business customers in Uganda to make international payments through their local bank. The service runs on infrastructure provided by TerraPay, which connects the bank’s customers to its global payments network and supports the bank’s cross-border remittance capabilities.
The launch follows growing international payment needs among Ugandan consumers and companies as the country becomes more connected to global trade, education, services, and commercial activity. The bank notes that customers increasingly expect international payments to offer cross-border reach while keeping the speed and convenience of their existing local banking relationship.
How the service is structured
The partnership combines Exim Bank Uganda’s local banking operations and customer relationships with TerraPay’s international payment infrastructure. TerraPay’s model is designed to let banks and financial institutions connect to global payment networks without building multiple bilateral integrations. For Exim Bank Uganda, this means it can broaden its international payment capabilities through TerraPay’s network while customers continue to deal directly with their local bank.
The service covers outbound flows from Uganda to destinations worldwide. For businesses, Exim Global Pay can support payments to international suppliers, service providers and commercial partners, a function the companies link to more efficient participation in global value chains. For individuals, it supports a range of legitimate international payment needs, including education, health, family support, travel and other personal financial commitments.
Customer expectations and interoperability
Representatives of both companies framed the launch around changing expectations for cross-border transactions. An Exim Bank Uganda official said the service reflects a broader shift in how customers view international payments, noting that businesses now transact with distant suppliers and families pay for education overseas, while the payments behind these transactions often remain complicated. The bank’s stated aim is to make international payments more straightforward, with a focus on convenience, reliability and efficiency.
A TerraPay official described cross-border payments as a tool that ‘should enable economic participation, not create friction around it’. The official characterised the partnership as a further step towards interoperability between local financial institutions and global payment networks, as well as part of TerraPay’s effort to expand access to cross-border payment services across Africa.
Strategic context
Exim Bank Uganda positions Exim Global Pay as part of its continued focus on financial services that respond to changing customer needs, along with the increasing digitisation and internationalisation of commerce. For TerraPay, the agreement adds a Ugandan banking partner to its network in Sub-Saharan Africa and reflects its approach of serving as a connectivity layer between domestic institutions and international payment rails.
Taken together, the launch is intended to strengthen the link between Uganda’s domestic financial ecosystem and the global economy. It does so by routing international payments for both commercial and personal use through an established local bank rather than requiring customers to look outside their existing banking relationship.
