By: Nana
Appiah Acquaye
Exim Bank Uganda Limited has
launched Exim Global Pay, a cross-border payment solution powered by TerraPay’s
global payments infrastructure, to help individuals and businesses in Uganda
make international payments more seamlessly and reliably.
Announced in Kampala, the
solution aims to address growing international payment needs as Ugandan
consumers and businesses become increasingly connected to global trade, education,
services and commercial activities.
Through the partnership,
Exim Bank Uganda will connect customers to TerraPay’s global payments network,
combining the bank’s local banking expertise and customer relationships with
TerraPay’s international payment infrastructure.
The solution is designed to
support businesses making payments to overseas suppliers, service providers and
commercial partners, as well as individuals managing international financial
commitments involving education, healthcare, family support, travel and other
personal needs.
Edward Kanyike, Managing
Director of Exim Bank Uganda, said the launch reflected changing customer
expectations around international financial transactions.
“The world has become
remarkably connected. A business in Kampala can transact with a supplier
thousands of kilometres away, a parent can pay for a child's education
overseas, and an individual can have financial commitments in more than one
country. What should not remain complicated is the payment that makes these
transactions possible,” Kanyike said.
“With Exim Global Pay, we
are responding to that reality. We want to make international payments a more
straightforward experience for our customers, while giving them the confidence
that their money can move across borders through a solution built around
convenience, reliability and efficiency,” he added.
Willie Kanyeki, Vice
President for Sub-Saharan Africa at TerraPay, said cross-border payments should
support economic participation rather than create obstacles for individuals and
businesses.
“Our partnership with Exim
Bank Uganda brings together strong local banking capabilities with TerraPay’s
global payments infrastructure, helping customers in Uganda connect more
efficiently with the rest of the world,” Kanyeki said.
He added that the
partnership represented another step towards greater interoperability between
local financial institutions and global payment networks, while expanding
access to reliable cross-border payment services across Africa.
TerraPay’s infrastructure is
designed to help banks and financial institutions connect to global payment
networks without the complexity of building multiple bilateral integrations.
This allows Exim Bank Uganda to broaden its international payment capabilities
while maintaining the customer experience of a local bank.
Exim Global Pay forms part
of the bank’s continued efforts to develop financial services that respond to
changing customer needs and the increasing digitisation and
internationalisation of commerce.
