Uganda: DTB Taps MTN and Airtel Customers

Money Transfer

Diamond Trust bank (DTB) recently launched PayEasy, a mobile phone payment collection system that enables customers to pay for goods directly from their mobile money account to the merchant's bank account.

While launching the product recently, Varghese Thambi, the chief executive officer, DTB, said the institution hopes to tap into mobile phone technology in order to reach the more than 19.5 million phone users in the country.

"We want to use innovations to enhance customer service and experience, and also bridge the gap between the businesses, mobile money and bank account to ensure there is increased financial inclusion," he said.

The service will be initially available on MTN mobile money and Airtel money platforms. Thambi explained that statistics show that 62 per cent of the populations have access to financial services but only 14 per cent of those are in the rural population has access.

He observed that data from Uganda Communications Commission shows that 52.3 per cent of Ugandans have access to a mobile phone; so, this will be an opportunity that the bank wants to exploit.
Source: The Observer Kampala