Uganda: DTB Taps MTN and Airtel Customers

Diamond Trust bank (DTB) recently launched PayEasy, a mobile phone payment collection system that enables customers to pay for goods directly from their mobile money account to the merchant's bank account.

While launching the product recently, Varghese Thambi, the chief executive officer, DTB, said the institution hopes to tap into mobile phone technology in order to reach the more than 19.5 million phone users in the country.

"We want to use innovations to enhance customer service and experience, and also bridge the gap between the businesses, mobile money and bank account to ensure there is increased financial inclusion," he said.

The service will be initially available on MTN mobile money and Airtel money platforms. Thambi explained that statistics show that 62 per cent of the populations have access to financial services but only 14 per cent of those are in the rural population has access.

He observed that data from Uganda Communications Commission shows that 52.3 per cent of Ugandans have access to a mobile phone; so, this will be an opportunity that the bank wants to exploit.

Thambi added: "This is the first time that a hybrid payment collection platform that answers questions around financial inclusion has been introduced into the market and now opens ways to building a cashless ecosystem within the community."

Thambi said PayEasy is already in use in some retail outlets, which include: First Pharmacy, Six Eye Care Centre HBT, Super Medic and Kenjoy Supermarket. Ibrahim Farah, the director of First Pharmacy, said the method is convenient as it improves on the cash handled by the staff.

"I have used this method and I find it convenient as less money is handled by my staff."

SOURCE:THE OBSERVER