Mastercard and Housing Finance Bank Partner to Build Uganda’s Digital Payments Ecosystem

By Soko Directory Team / December 3, 2018




Mastercard, in partnership with Housing Finance Bank, today launched Mastercard Debit and Prepaid Card options to the bank’s customers. These payment solutions will deliver a quick, convenient and secure alternative to cash, while further assisting in driving inclusive growth in Uganda.

They will also underpin the Ugandan Government’s National Financial Inclusion Strategy (NFIS) 2017 – 2022, which is aimed at financially including 95 percent of the country’s population by 2022.

The Mastercard Standard and Platinum Debit Cards will provide customers with increased convenience through access to Mastercard point-of-sale (POS) and branded ATMs, both in Uganda and worldwide. While the Platinum Debit Card will also give customers Legacy Lifestyle gold tier membership, purchase protection to cover new purchases against accidental damage or theft and exclusive shopping benefits at The Bicester Village Shopping Collection.

The third solution, the Mastercard Prepaid Card, is a preloaded card which will enable customers to make purchases anywhere that Mastercard is accepted, including online. This Card has worldwide functionality that can be used for travel or shopping and offers consumers a simple, safe and efficient alternative to cash.

As Ugandan consumer needs change, strategic innovations and partnerships are essential to provide them with services that meet their needs.  “We are proud to partner with Housing Finance Bank to promote the issuance and use of card technology in Uganda,” says Adam Jones, East Africa Cluster Head, Mastercard. “Together, we are committed to educating consumers about the benefits of using digital payments over cash, and each collaboration that brings this technology into the hands of consumers help us realize this cashless goal.”

“Housing Finance Bank is committed to leveraging partnerships that enhance the overall customer experience. Our partnership with Mastercard will transform the provision of financial services, leading to faster, safer and more secure transactions that enable people to achieve financial security and improve their quality of life,” says Michael Mugabi, Managing Director, Housing Finance Bank.

Ugandans will be able to request the Mastercard Debit and Prepaid card options at their local Housing Finance Bank branch.



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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