Bank of Uganda headquarters in Kampala.

Micropay Uganda, Mcash Uganda, Interswitch East Africa, Pegasus Technologies and Wave Transfer have been licenced by the Bank of Uganda to conduct digital and electronic payments

The four companies join MTN Uganda and Airtel Uganda which have been granted licences under the new National Payment System law.

Micropay, Mcash and Interswitch were granted Payment Systems Operator and Payment Service Provider licences while Pegasus has been issued with a licence of Payment Systems Operator.

Wave Transfer was given a Payment Service Provider in the Regulatory Sandbox. 

Ms Charity Mugumya, the Bank of Uganda director communications, said this now brings to service the number of companies that have so far been licensed under the National Payment Systems Act.

Mr Peter Kawumi, the Interswitch country general manager, said the licences provide them an opportunity to innovate and create new products that are responsive to the needs of the market.