Pearl Bank and Stanbic Join Forces to Merge Digital Wallets for Uganda’s Financial Inclusion Drive A groundbreaking collaboration between Pearl Bank Uganda and Stanbic Bank connects Wendi and FlexiPay wallets, empowering millions of Ugandans with seamless, affordable digital financial services.

In a landmark partnership that signals collaboration over competition, Pearl Bank Uganda (formerly PostBank Uganda), a leading government-owned financial institution and Stanbic Bank Uganda, the country’s largest commercial bank, have announced the integration of their digital wallets — Wendi and FlexiPay.

Collectively, both platforms serve over a million users offering both saving, credit, and e-commerce transaction services.

This strategic move will allow users of both platforms to transact seamlessly and at significantly subsidised fees, a major step toward making financial services more affordable and accessible to millions of Ugandans.

The announcement was made at a joint press briefing in Kampala, where the two banks highlighted how the partnership will support Uganda’s ongoing financial inclusion and digital transformation agenda.

Mumba Kenneth Kalifungwa, Stanbic Bank Uganda Chief Executive described the partnership as a win for ordinary Ugandans, noting that by connecting FlexiPay and Wendi, the banks are breaking down digital walls and ensuring that no matter where one resides or who they bank with, they can transact safely and affordably.

“It directly supports Stanbic’s growth agenda for Women, Youth, and Farmers (WYF) under our Positive Impact pillar on Financial Inclusion. FlexiPay enables users to buy and pay merchants and utility bills at no or low charges while also enabling them to save or access credit on the platform,” Mr. Kalifungwa said.

Julius Kakeeto, Managing Director & CEO, Pearl Bank Uganda explained that the Wendi wallet has been at the heart of implementing government programmes that promote financial inclusion across the country hence empowering them to take full advantage of digital financial services.

“With a customer base of over one million and an agent base of over 8000, the partnership with FlexiPay is timely because our users will gain greater convenience and access to a wider merchant and agent network,” Kakeeto said.

He noted that the Wendi wallet was designed to ensure that Ugandans are included in the money economy and can transact and save securely while earning a 10% interest per annum on all their savings.

“This collaboration is a big step toward achieving Uganda’s National-Financial-Inclusion-Strategy-2023-2028,” he quipped.

Expanding Access and Impact

FlexiPay currently enjoys a distribution network of over 17,800 agents serving over half a million retail and merchant wallets across the country.

It is also an integral part of Stanbic Bank’s successful SACCO programme with hundreds of them having their operations supported by FlexiPay.

Wendi, on the other hand, has enjoyed fast growth and played a central role easing government disbursements under the Parish Development Model (PDM), reaching thousands of beneficiaries in rural communities.

Beyond government programs, Wendi has partnered with Western Union to enable users to send and receive remittances from abroad directly into their Wendi wallets — a milestone in bridging cross-border financial inclusion.

The integration means users on either platform can send, receive, and pay seamlessly — removing the barriers that have traditionally made digital transactions between networks slow and costly.

According to the National Financial Inclusion Strategy (2023–2028), access to formal financial services in Uganda has improved from 52% in 2013 to 68% in 2023 (FSD Uganda), largely driven by mobile and digital innovation. Yet, many rural Ugandans — particularly women, youth, and farmers — remain excluded.

This partnership is a powerful catalyst for expanding digital access, promoting cashless trade, and supporting livelihoods in rural and peri-urban communities.

The two institutions will roll out the integration in phases, starting with joint awareness campaigns, shared agent support, and merchant onboarding programs across key agricultural and trading regions.

By combining Stanbic’s commercial scale with Pearl Bank’s national footprint, the partnership is expected to reach deep into rural Uganda — especially among farmers, youth entrepreneurs, and women-led enterprises — helping to build stronger, more inclusive local economies.