Interswitch and Beyonic sign partnership for bulky cash
Beyonic Limited has become the latest company to partner with Interswitch Uganda in a bid to include a push and pull to the bank option for their customers.
According to Carina Rumberger, the Beyonic Ltd Chief Executive Officer, all Beyonic enterprise partners can now push and pull transactions between bank accounts and mobile wallets at over 20 financial institutions /banks, in addition to the four telecom companies.
In the past, Beyonic customers could only push and pull money via only mobile money accounts, which cash is usually below Ush7 million. But, with this new partnership, Beyonic customers will be able to push and pull cash which is more than Ush7 million via their bank accounts.
“In addition to our existing 25 Mobile Money connections across Africa, our customers will now enjoy access to as many financial institutions. This will allow them to manage their suppliers, payroll, disbursements, and collections to and from any channel they choose in one easy to use the platform,” said Rumberger.
Yusuf Lule, the Interswitch Uganda Ltd Head of Finance, who represented Peter Kawumi the Interswitch Country General Manager said partnerships like the one with Beyonic provides customers with choice, which choice opens them up to many options that they are most comfortable to utilize their funds and thus become more financially included.
Interswitch is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organisations on a timely and consistent basis.
The company started operations in 2002 as a transaction switching and electronic payments processing company that builds and manages payment infrastructure as well as deliver innovative payment products and transactional services throughout the African continent.
Today, it is at the forefront of creating intuitive ways to pay and transact using digital technologies.
Beyonic makes last-mile digital payments in emerging markets easy, freeing their clients to focus on making their businesses and communities thrive.
They are currently in nine countries across Africa. The countries include Uganda, Kenya, Tanzania, Rwanda, Ghana, Nigeria, Zambia, Malawi and Somalia.
