By Mark Kawalya
With the aim of offering its transactions for less, Stanbic Bank is working towards doubling the number of Flexipay wallet holders to about one million under a new campaign dubbed “Kikole for Less” (do it for less).
The campaign was commissioned off at an event attended by thousands of revelers at Kalerwe Market in Kampala and is slated to run for six months. With an aim of creating awareness and onboarding Ugandans to the FlexiPay wallet as a tangible means of making transactions.
The campaign seeks to highlight the design and usability of FlexiPay, which is a digital transaction portal that can be accessed through the phone using the USSD protocol, very much like mobile money. The platform enables users to receive, load and send money, make merchant payments without the need to open a bank account.
“FlexiPay transaction fees are significantly lower than many of the options on the Ugandan market. “It is for this reason that the campaign is called “Do it for Less,” with new users able to join the platform by simply dialing *291# on any mobile handset,” said Israel Arinaitwe, Stanbic Bank’s Executive Head for Consumer Banking.
Alternatively, FlexiPay can be downloaded as a smartphone application, which won’t require new users to have a Stanbic Bank account as a prerequisite. Virtually anyone can sign up for FlexiPay, even if they are holders of accounts at other banks.
Joseph Ndoboli, the FlexiPay Sales and Distribution Manager, said, “For the longest time, the people were going to the banks to seek financial services. With technology, banking services are now available to the public. All one needs is a phone to enjoy almost all services accessed by account holders, such as loans, money transfers, and merchant payments,”
FlexiPay incorporates a large list of financial services, and is considered a new frontier that allows customers and merchants to carry out a wider range of transactions at low rates and directly make payments from their FlexiWallet to other wallets.
The FlexiPay Wallet can be loaded with cash using a debit or virtual card for non-Stanbic clients, while Stanbic clients can fund their wallets directly from their bank accounts.
Some of the services that FlexiPay clients can access include paying bills, bancassurance, receiving international remittances, tuition payments, goods and service payments and savings.