Bank of India Uganda has partnered with Interswitch Uganda to expand its debit-card services, giving customers access to a wider network of automated teller machines (ATMs) and merchant payment points across the country.
The partnership, announced in Kampala on October 14, makes Verve, Interswitch’s domestic card scheme, the exclusive card scheme for Bank of India customers.
Under the arrangement, customers can use their Verve debit cards to withdraw cash from more than 800 Interswitch-enabled ATMs and pay for goods and services at more than 20,000 merchant locations countrywide.
The development marks an expansion of the bank’s card-based services as it seeks to give customers greater access to their accounts beyond its physical branches.
Customers can obtain the debit cards from Bank of India branches and use them to access cash and make electronic payments through the Interswitch network.
Moris Seguya, the Interswitch Uganda country general manager, said the partnership would expand access to card payments while increasing the reach of the Verve network.
“This partnership brings card payments to Bank of India customers for the first time, while expanding access to Verve across Uganda,” Mr Seguya said.
He said increasing the number of financial institutions issuing Verve cards would strengthen the payment network by expanding both its customer base and acceptance points.
Bank of India Uganda managing director Srikant Ashok Wikhe said the partnership was part of the bank’s efforts to provide customers with more convenient and reliable digital financial services.
“Partnering with Interswitch to issue Verve debit cards to our customers is a natural step in our journey towards a more digital, customer-centred bank,” Mr Wikhe said.
He said the bank would leverage Interswitch’s payment infrastructure to give customers greater flexibility in accessing and using their money across Uganda.
The development follows the bank’s recent expansion of debit-card services. In September, Bank of India Uganda announced a card offering linked to more than 650 Interswitch-enabled ATMs and more than 4,900 merchant points, allowing customers to access their funds beyond the bank’s branch network.
The latest partnership further broadens the card-payment infrastructure available to the bank’s customers and supports Interswitch’s efforts to increase the number of financial institutions issuing Verve cards in Uganda.
Bank of India Uganda has been operating in the country since 2012 and currently offers retail and corporate banking services, among other financial products.
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