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Absa expands access to credit cards

Michael Segwaya – Absa Bank Uganda’s Executivive Director and Chief Finance Officer during the launch

Kampala, Uganda | THE INDEPENDENT | In a bid to expand access to credit card services in Uganda, Absa Bank Uganda has launched two new credit card digital innovations named ‘Buy Now, Pay Later’ and ‘Credit Card-Initiated Payments’. ‘Buy Now Pay Later’ will enable customers to make payments off their credit cards and choose flexible repayment plans at reduced interest rates while ‘Credit Card Initiated Payments’ will allow customers to move money from their credit cards into their personal accounts and Mobile Wallets to enable them to draw cash or pay for goods and services in case POS services are not available.

Michael Segwaya, Executive Director and CFO, of Absa Bank Uganda said, “This new product offering is a testament to our dedication to constant innovation to provide high-quality and affordable banking services. This is a pioneer innovation, a first-to-market solution that builds on our existing range of affordable and convenient digital financial services.

This product is structured to offer convenience to our customers whose consumption habits continue to shift with an increasing trend towards convenience, modern lifestyle, holistic experiences, and value offerings.” The credit card offerings are in response to a shift and preference for digital payment systems among the population driven by the movement towards cashless transactions.

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