FlexiPay, a leading digital payment platform in Uganda, has partnered with Upesi Money Transfer, a regional payments company, to enable Ugandans to send and receive money from abroad with ease.
The collaboration that happened on Friday 14th/June/2024, just a day to the International Money Remittances Day comes as a beacon of joy for individuals and businesses in Uganda who rely on remittances from family and friends living in other countries.
Josephine Nakato Kasacca, Lead Customer Experience & Operations, FlexiPay said that this initiative is in fulfillment of Stanbic Bank’s commitment to support and enable customers to complete borderless financial transactions in a convenient, secure, quick, and affordable manner.
Nakato added that effective today customers can now use FlexiPay’s platform to send money to loved ones in over 20 countries and at the moment working towards bringing the number to 70 countries by the end of the 2024.
“In line with our purpose; Uganda is our home, we drive her growth, we believe that by helping as many people as possible meet their financial needs with innovative services, goes a long way in driving economic growth. FlexiPay is ideal and let me emphasize again, very affordable! I want to take this opportunity to call upon all of you to use this platform because there dozens of unmatched benefits one will compared to other platforms.” Nyakato said.
Some of the foreign countries Ugandans can receive money from include; Kenya, United Arab Emirates, United Kingdom, Qatar, Oman, United States, South Africa, France, Canada, Israel, South Korea, India, Germany, Ireland, Netherlands, Kuwait, Bahrain, ARE, Australia, Poland among others.
She disclosed that FlexiPay is very safe to use, because it uses mobile applications and systems based on advanced encryption and other security measures to protect the sensitive financial information and transactions of all users.
Julius Okwana, Upesi Money Transfer Country Manager Uganda, expressed excitement about the possibilities it this partnership is bringing to their customers, stating that they are committed to providing innovative solutions that simplify financial transactions for their users.
He added that With FlexiPay’s strong presence in the local market and Upesi’s extensive regional and global network, this partnership promises to make cross-border money transfers faster and more convenient without making unnecessary cues in banking halls.
“With the increasing demand for cross-border transactions in Uganda, this partnership between FlexiPay and Upesi is poised to revolutionize the way people send and receive money internationally. It is expected to drive financial inclusion and promote economic growth in the region.” Okwana said adding that all transactions are secure and protected from potential cyber threats.
As of 2023, there are estimated to be around two million Ugandans living, and working abroad. There are also a good number of Ugandans here, who are doing plenty of business with foreign companies.
The recent World Bank report indicates that a total amount of money remittances receive in Uganda on an annual basis is approximately $1.43 billion, that about 5.32 trillion Ugandan Shillings.
According to David Berno, the International Fund for Agricultural Development (IFAD) head Remittance and Inclusive, emphasized that money remittances play a crucial role in reducing poverty and enhancing food security in developing countries.
“We excited to be affiliated to this campaign because Money remittances enable families to meet their basic needs, such as food, shelter, and education, and can also contribute to local economic growth through increased consumption and investment. Therefore by supporting money remittances, IFAD aims to promote financial inclusion, empower smallholder farmers and rural entrepreneurs, and ultimately contribute to sustainable development and poverty reduction.” David Berno said.