UTL launches mobile banking service
Uganda Telecom (UTL) has launched a new mobile banking service aimed at giving people in the country greater access to financial products.Known as M-Sente, the provision is targeted at customers that do not have the necessary income to make transactions through traditional methods. People do not need to have a bank account to make use of the offering, Chief Technical Officer for UTL Tesfai Menghistab explained. "All one needs is a UTL line and registered M-Sente account," he remarked.
The service is backed by the telecoms network's nationwide mobile phone coverage and is powered by global finance infrastructure provider MAP's mobile banking platform. Managing Director of MAP Switch Roscoe Nsubuga added the new offering will improve the ease with which people in Uganda can send and receive money. "This is going to be a revolutionary service that will change our behaviour," Biz Community quoted him as saying. Earlier this month, Zain Ghana extended its Zap mobile commerce facility to help those living in the country send and receive funds.