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Kikonyogo Douglas Albert

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A writer, poet, and thinker... ready to press the trigger to the next big gig.
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Business

What does UCC’s Wi-Fi crackdown mean for affordable internet access?

Kikonyogo Douglas Albert -
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Artifical Intelligence

Ugandan wants AI to monitor online content. How can technology protect users?

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Business

Reckitt, Chil Group Expand Dettol Hygiene Quest Phase 3 in Uganda

Kikonyogo Douglas Albert -
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Interswitch Uganda has partnered with Bank of India to introduce Verve debit cards to the bank’s customers, expanding access to digital financial services and strengthening Uganda’s growing cashless payments ecosystem. The partnership marks Bank of India’s entry into card-based banking services, allowing its customers to make payments and withdraw cash without relying solely on physical bank branches. Under the agreement, Verve, Interswitch’s domestic card scheme, becomes the exclusive card scheme for Bank of India, providing customers with access to an established payment infrastructure across Uganda. Expanding Access to Digital Payments For Bank of India customers, the introduction of Verve debit cards represents a significant shift in how they can access and manage their money. Previously dependent on branch visits for banking transactions, customers can now withdraw cash from more than 800 Interswitch-enabled ATMs and make payments at over 20,000 merchant locations across Uganda. This means customers can conveniently pay for goods and services at participating retail outlets and access their funds through ATMs, reducing the need for routine visits to banking halls. The cards are available directly from Bank of India branches, making it easier for existing customers to transition to card-based banking without requiring any previous card ownership. Beyond convenience, the rollout highlights the growing importance of shared payment infrastructure in helping financial institutions modernise their services without having to build entirely new payment networks. Strengthening Uganda’s Cashless Economy The partnership comes as financial institutions across Uganda continue to embrace digital payment solutions to improve accessibility, efficiency and customer experience. For Interswitch, adding Bank of India to its Verve issuing network represents another step towards expanding the adoption of locally enabled payment solutions. By bringing more financial institutions onto the Verve platform, Interswitch aims to strengthen the payment ecosystem, increase card usage and make electronic transactions accessible to a wider customer base. The partnership also demonstrates how collaboration between banks and payment technology providers can accelerate digital transformation, particularly for institutions seeking to introduce modern banking services through existing infrastructure. Interswitch and Bank of India Speak on the Partnership Commenting on the development, Moris Seguya, Country General Manager at Interswitch Uganda, said the partnership reflects the company's commitment to making digital payments more accessible and reliable. “This partnership brings card payments to Bank of India customers for the first time, while expanding access to Verve across Uganda. Our focus is on making card payments accessible, reliable and easy to use, supported by infrastructure that can scale with the needs of banks and their customers. “Every new issuer strengthens the wider Verve network by increasing acceptance and giving more customers access to card-based payments. The Bank of India partnership is an important step in expanding that network and supporting the growth of digital payments in Uganda.” Srikant Ashok Wikhe, Managing Director of Bank of India, described the partnership as an important milestone in the bank’s transition towards more digitally driven and customer-focused services. “Partnering with Interswitch to issue Verve debit cards to our customers is a natural step in our journey towards a more digital, customer-centred bank. For us, this goes beyond innovation. It is about making sure our customers have access to financial services that work efficiently, reliably, and right across Uganda. “With Interswitch's extensive network behind us, we are confident that our customers will experience a new level of convenience, wherever they are. We are excited about what this partnership means for our customers and for our strategic ambitions as a bank. This is just the beginning.” What This Means for Uganda’s Banking Sector The introduction of Verve debit cards at Bank of India illustrates a broader shift in Uganda’s financial services industry, where banks are increasingly leveraging financial technology partnerships to improve service delivery. Rather than investing in standalone card payment infrastructure, financial institutions can tap into existing networks to offer customers more flexible ways to transact. For customers, this translates into easier access to funds, greater convenience when making everyday purchases and reduced dependence on traditional banking channels. For the wider financial sector, partnerships of this nature can help accelerate the adoption of electronic payments, support financial inclusion and create new opportunities for digital banking innovation.
Business

Interswitch partners with Bank of India to roll out Verve debit cards in Uganda

Kikonyogo Douglas Albert -
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Apps & Software

Zambia pushes for Facebook, TikTok and YouTube monetisation

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Apps & Software

WhatsApp introduces Guest Calling, allowing anyone to join calls without an account

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