Banking switch services allow a customer of one bank to access their account at ATM’s of another bank without opening an additional account.
Uganda currently has 5.3 million commercial bank accounts spread out in 27 licensed commercial banks. There are 13 banks on the Ugandan switch run by Interswitch East Africa.
“We are soon signing a Memorandum of Understanding with Kenya’s Kenswitch, Rwanda’s Rswitch, and Tanzania’s Umoja. Our goal is to expand to the entire African continent”Olumuyiwa Asagba, the Interswitch boss said at the Serena Kampala Hotel. ...read more- The New Vision
“We want to be a catalyst for the East African intergration and the move towards having a cashless economy”