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Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has unveiled the Absa Mobi Tap functionality, which allows Micro, Small, and Medium-Sized Enterprises to use their smartphones as Point-of-Sale machines.
The functionality was unveiled during a launch event held at the National Theatre and will enable small businesses to accept card-based payments from customers using a smartphone.
Michael Segwaya, Absa Bank Uganda’s Executive Director and CFO said, “One of the hindrances to the growth of MSMEs is the fact that a majority are informal and unbanked, which hinders their ability to access credit or attract investors.
With this development, we are presenting an option for small businesses to have a clear, digital record of their transactions which will go a long way towards helping them better manage their finances and demonstrate their viability to potential funders.”
