Overview:
Previously, customers had to physically visit the bank and wait in line to access the bank's services attached to their accounts. However, with Muzuri Pay, this inconvenience is eliminated, Mr Muyobo said.
NCBA Bank Uganda has launched MuzuriPay, an innovative payment solution designed to enhance financial transactions online for both mobile and web users.
Speaking at the launch in Kampala on Monday, 12 June 2023, Mark Muyobo, the CEO of NCBA Bank, expressed optimism that the new digital collection and seamless payment system will simplify financial transactions, enabling users to conveniently pay for utilities, school fees, and access their NCBA Bank accounts with ease through their mobile devices or computers.
Previously, customers had to physically visit the bank and wait in line to access the bank’s services attached to their accounts. However, with Muzuri Pay, this inconvenience is eliminated, Mr Muyobo said.
Users are able to access the MuzuriPay platform directly online, allowing them to withdraw or deposit money into their accounts without the need for in-person visits.
Muyobo emphasized that this development aligns with the bank’s commitment to meeting evolving customer needs and keeping up with technological advancements in today’s fast-paced world, where time is of the essence.
Muyobo further stated, “We have revolutionized how customers manage collections and payments. Our comprehensive suite of digital tools and services empowers both businesses and individuals, providing an efficient way to track, receive, and make payments at their fingertips.”
The user-friendly mobile application and web portal enable customers to effortlessly manage their financial transactions from anywhere in the world, at any time.
This accessibility empowers customers to make informed decisions and maintain greater control over their financial affairs.
Muyobo said security is a top priority for the new MuzuriPay solution, and NCBA Bank has implemented stringent measures to safeguard customer information. The platform incorporates intelligent automation and artificial intelligence algorithms, streamlining and optimizing collection and payment processes.
NCBA Bank takes pride in its Mokash solution, developed in collaboration with MTN Uganda. Mokash has connected previously unbanked individuals to mobile loans, with NCBA Bank providing the funds behind these loans.
“So if you have borrowed on MTN we are the people behind providing the money that you borrow on that platform,” he stated.
Muyobo revealed that this partnership has granted almost ten million customers the ability to borrow money directly on their phones, with over one trillion Uganda shillings already disbursed through this platform.