Absa Bank Uganda has unveiled three cutting-edge digital payment solutions—Absa Multi-Currency Virtual Card, Absa Pay, and Absa Pay by Link—aimed at making banking more convenient, secure, and accessible for both individuals and businesses.
The Absa Multi-Currency Virtual Card allows users to hold and manage up to five currencies, including Uganda Shillings (UGX), US Dollars (USD), Euros (EUR), Pounds (GBP), and South African Rand (ZAR), on a single platform.
Customers can create virtual cards in real time, facilitating international payments for travel, online shopping, and business transactions while reducing costs and leveraging favourable exchange rates.
According to Moses Rutahigwa Retail and Business Banking Director Absa Pay is a self-registration service that enables instant access to a digital debit or credit card, eliminating the need for a physical card. Activated via the Absa Internet Banking App under Card Management, users can make secure, contactless payments directly from their phones.
Meanwhile Absa Pay by Link targets business banking customers, allowing them to generate secure payment links that customers can pay using any Visa-enabled card. Payments are settled instantly, enhancing operational efficiency and reducing reliance on cash—a solution particularly suited for SMEs and service providers.
Speaking at the launch, Moses Rutahigwa, Retail and Business Banking Director at Absa Bank Uganda, said, “From managing multiple currencies while travelling or transacting online, to enabling fast, contactless payments for everyday use, and supporting SMEs with instant settlement, these innovations reflect our commitment to empowering our customers in today’s digital economy.”
Highlighting Uganda’s growing digital payments sector, Chad Pollock, VP and GM Visa East Africa, noted, “ These innovations arrive at a time when digital payments in Uganda are surging. With over 2.1 million active mobile banking users and transaction values reaching shs15.5 trillion, it is clear that Ugandans are ready for digital-first solutions that are seamless, safe, and fit for purpose.”
Rutahigwa added, “The rapid growth in digital payments over the last four years confirms that Ugandans are ready for fast, secure, and convenient digital-first payment solutions, both locally and internationally. Therefore, these new solutions are timely and relevant as they align with the rapid digital transformation taking place in Uganda.”
All three solutions leverage advanced cybersecurity to ensure secure, seamless digital banking, and form part of Absa Bank Uganda’s broader strategy to drive customer-led growth, enhance digital capabilities, and empower individuals and businesses to make smarter financial decisions
Absa Group Limited offers a wide range of products and services for individuals, small and medium enterprises (SMEs), and large corporations, including retail banking, corporate and investment banking, and digital solutions like the Absa Banking App and other online platforms. The bank is regulated by the Bank of Uganda and emphasizes financial inclusion and community support through various initiatives.