newsupdates: Cairo Bank Uganda Partners with PesaPal to Enhance POS and E-Commerce Services for SME Customers

Press Release

Cairo Bank Uganda Partners with Pesapal to Enhance POS and E-Commerce Services for SME Customers

Kampala, Uganda – 20th June 2024: Cairo Bank Uganda (CBU) is delighted to announce a strategic partnership with Pesapal, a leading payment solutions provider, to offer enhanced Point of Sale (POS) and E-commerce services to our SME customers. This collaboration aligns with Cairo Bank’s vision “To become the preferred SME bank in Uganda” and our mission “Providing excellent customer service and products that grow the SME segment”

Background: Cairo Bank Uganda offers a range of digital services, including Internet Banking, ATMs, W2B services, Agency Banking, Sasula and School Pay, designed to enhance accessibility and convenience for our customers. Our goal is to deliver exceptional SME products that cater to the unique needs of small and medium-sized enterprises.

Development: In response to customer demand for POS services and E-commerce gateways, CBU identified Pesapal as a suitable partner. Pesapal, headquartered in Nairobi, operates in Kenya, Uganda, Tanzania, Rwanda, and Zambia, and is regulated by the Central Bank of Kenya, Bank of Uganda, Bank of Tanzania, National Bank of Rwanda and Bank of Zambia respectively. Since its inception in 2009, Pesapal has grown to support over 40,000 e-merchants, 11,000 POS terminals, 14 million unique users, and processes over 600,000 transactions daily.

Pesapal will manage the settlement of all funds collected through POS terminals and E-commerce gateways to designated CBU customer accounts on a T+1 basis, ensuring timely and efficient fund transfers. The partnership will feature co-branding efforts, with POS terminals and marketing materials displaying both CBU and Pesapal logos.

“This partnership aims to provide our SME customers with secure, efficient, and alternative means of receiving payments. The POS services will facilitate in-person card transactions (VISA, MasterCard, Amex etc.,) and Mobile money wallet payments (MTN and Airtel Mobile Money) while the E-commerce gateway will support online transactions where cards are not physically present. This initiative will not only enhance customer convenience but also contribute to the growth of our collections, liabilities, and customer retention”. The Ag. Managing Director of Cairo Bank Uganda Limited – Mrs. Sylvia Jagwe Owachi.

“This alliance is more than a collaboration; it’s a leap forward for SMEs in Uganda, providing them with the tools they need to succeed in today’s digital marketplace. By integrating CBU’s trusted banking services with Pesapal’s innovative payment solutions, we are creating a synergy that will transform the financial landscape for small and medium-sized businesses. Our commitment to ‘growing with you’ is at the core of this partnership, as we work hand in hand with our customers to ensure their success is our success.” The Country Manager for Pesapal – Mrs. Maureen Njoroge Namoma

About Cairo Bank Uganda: Cairo Bank Uganda is a subsidiary of Banque du Caire and has been a tier 1 bank offering financial services in the Ugandan market for over 25 years. Cairo Bank Uganda is committed to providing a range of banking services in the market. Our tagline is “Growing with you”

About Pesapal: Pesapal is a leading payment solutions provider, offering secure and efficient payment processing services across multiple countries in Africa. With a mission to democratize card payments, Pesapal empowers businesses to participate in global commerce seamlessly.

For more information about Cairo Bank Uganda and the partnership with Pesapal, please visit:  https://www.pesapal.com/ug 

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