By Silvia Nyambura
The gradual move towards a cashless economy is gaining momentum as banks utilize the wide reach of mobile money platforms. Diamond Trust Bank (DTB) has today 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.
PayEasy will introduce a secure and convenient payment system which can be used in all categories of business and individual transactions.
With the introduction of this service, the bank is hoping to tap into mobile phone technology and innovation to reach the more than 19.5 million phone users in the country. Available data from the Uganda Communication Commission (UCC) shows that 52.3 % of Ugandans have access to mobile phone.
The service will be initially available on MTN Mobile Money and Airtel Money.
“We want to use technology and innovation not only to enhance customer service and experience, but also to bridge the gap between the merchant Mobile Money and Bank Account to ensure that there is increased financial inclusion in the country,
