Stanbic Bank launches campaign to promote digital payments

KAMPALA, Uganda — Stanbic Bank Uganda has initiated a three-month campaign, “FlexiPay Cashback Explosion,” designed to accelerate digital payment adoption and enhance financial inclusion across the country. The program offers over 100 million Ugandan shillings (approximately $26,000 USD) in prizes and cashback rewards to customers.

The campaign began at the offices of Boda Boda Banja, a significant merchant partner, promoting the use of Stanbic’s FlexiPay digital platform for everyday transactions.

Melisa Nyakwera, Stanbic Bank’s Head of Commercial Banking, stated the initiative is part of broader efforts to foster digital adoption and empower Ugandans to adopt a cashless lifestyle. “Digital innovation is central to Uganda’s growth,” Nyakwera said, emphasizing FlexiPay’s role as a business enabler.

Saurabh Jain, Chief Operations Officer at Boda Boda Banja Limited, highlighted his company’s improved operations since integrating FlexiPay in 2022. He noted that the platform significantly reduced risks associated with cash payments, such as theft and high default rates. Boda Boda Banja has supplied over 80,000 motorcycles to Ugandan youth, contributing to job creation.

Dan Atuhairwe, FlexiPay Product Lead, confirmed that new and existing customers will receive prizes and cashback. Users will receive a 10% instant cashback on transactions exceeding 50,000 Ugandan shillings (approximately $13 USD). He also assured users of FlexiPay’s commitment to secure transactions and data.

Launched in 2022, FlexiPay has over 1.5 million active wallets. The platform facilitates cross-network transactions, bill payments, event ticketing, and international money remittances from more than 25 countries, with no associated charges. In 2024, FlexiPay facilitated over 30 billion Ugandan shillings (approximately $7.8 million USD) in international remittances to Uganda.