KAMPALA, Uganda– Housing Finance Bank (HFB) has teamed with Pesapal Uganda, a digital payment and business solutions provider, to enhance payment experiences for customers and businesses, the bank announced Friday. The collaboration aligns with HFB’s goal of simplifying banking.
The partnership aims to empower Small and Medium Enterprises (SMEs) with efficient and secure financial tools. By integrating Pesapal’s platforms, including point-of-sale (POS) systems and e-commerce solutions, businesses will gain access to more payment collection channels, facilitating smoother online and in-person transactions and faster access to funds.
Ivan Kituuka, HFB’s Head of Distribution & Alternate Channels, emphasized the significance of the collaboration in Uganda’s growing digital payments landscape. “This partnership supports the goal of a cashless Uganda by making transactions more convenient and reducing reliance on cash,” Kituuka said. “Housing Finance Bank is committed to delivering innovative banking solutions that simplify our customers’ financial lives. This collaboration with Pesapal Uganda is a transformative step toward optimizing payment experiences and fostering economic growth for both businesses and consumers.”
HFB will utilize its branch network to help businesses adopt Pesapal’s payment solutions. The partnership is expected to increase merchant engagement, expand financial access, and contribute to Uganda’s digital transformation.
Martin Barungi, Director at Pesapal Uganda, noted the alignment between the two organizations in advancing digital financial inclusion. “With rising demand for cashless transactions, Pesapal’s solutions empower businesses to operate more efficiently and scale confidently, while ensuring customers enjoy secure, seamless, and convenient payment experiences,” Barungi said.
The collaboration comes as the global digital payments market is projected to reach $15 trillion by 2027, a trend reflected in Uganda’s increasing adoption of cashless transactions. The new services will be available at various outlets, including supermarkets, fuel stations, hospitals, and restaurants, providing easier access to digital payments for businesses and consumers.