Ugandans in the diaspora are seeking for ways to invest in the country; however, one of the most challenging aspects is money transfer. Stone Atwine is the founder of remit.ug a new money transfer platform in Uganda.
The development of new money transfer strategies in Uganda has improved remittances to the country in the past year. According to the CEO of remit.ug, the platform allows the users to send money directly to their mobile phones. Just like any other money-sending platform, the new service allows Ugandans to send and receive money across Africa. The system provides an affordable and convenient way of sending money across the African continent especially to the unbanked communities in the rural dwellers. The platform began as a partner with VISA, however as time went by it grew and currently it is one of the most popular platforms in Uganda.
The platform allows people to make transfers either from credit, debit card to mobile users in Rwanda, Kenya, and Uganda. The design is geared to deal with the common problems that are associated with cost, convenience, and affordability of sending and receiving money in the continent and across the globe. The transfer is instant and with the penetration of mobile wallets in Uganda, the technology offers a robust service and an avenue for the locals to access funds whenever they want in the country. The service is smooth and the user at the far end can receive the money with ease.
Mobile money transfer has entered the Ugandan market and with such technologies, financial inclusion is rising in the country. Ugandans across the globe can now send money home using the platform, the money is accessible in the local shops, and this will save time and charges incurred in travelling when looking for money transfer in the banks. The future prospects of the technology will be to incorporate the different payment utilities in the platforms to make it easy for diaspora citizens to pay for bills of the local families whenever they need.