Absa Bank Uganda has unveiled three new digital payment innovations designed to offer customers faster, safer and more flexible ways to transact as the country continues to embrace a cashless economy.
The new solutions, a multi-currency virtual card, a phone-based digital card service, and a payment link platform for businesses are intended to simplify everyday payments while supporting Uganda’s growing digital commerce sector.
The multi currency virtual card allows customers to create and use digital cards instantly, with the option to hold and make payments in multiple currencies. The tool is designed to make international purchases, online subscriptions and travel payments more convenient, without the need for a physical card.
The second innovation, known as Absa Pay, gives customers a digital version of their debit or credit card directly on their phones. Once registered through Absa’s online banking channels, users can make secure payments without carrying a physical card a feature that aligns with the rising demand for contactless and mobile based transactions.
For merchants, Absa has launched Pay by Link, a service that enables businesses to send a secure payment link to customers for quick settlement. The feature is expected to benefit SMEs, service providers and online sellers by reducing cash handling and offering customers an easier way to pay from any location.
During the launch, Absa executives said the new tools are a response to the rapid growth of digital banking in Uganda, with more customers seeking flexible payment options for both local and cross-border needs. They noted that the bank’s focus is to provide solutions that match changing customer behaviour and support business efficiency.
The rollout underscores Absa’s broader strategy to position itself as a leader in digital financial services, especially as Uganda’s banking sector experiences a surge in mobile and online transactions.