A new payments provider is in town, Pay it Uganda a direct competitor to Payway Uganda and Pebuu, that aims to enable Ugandans conveniently pay for goods and services and also do a lot more. Trusted sources have informed this blog that the company aims to expand its reach into the electronic payments market and make it easier for customers to transact, make payments and purchases with less hustles. Pay it Uganda will reportedly launch soon, however it is still lacking an online presence, which we hope will come soon and we are yet to establish whether they will roll out with kiosks/ vending machines or Point of Sale devices.
Pay It Uganda are direct competitors to the market leader Payway, and according to our sources have already integrated with telecom companies such as MTN, Airtel, UTL, Africell, Vodafone, Smile Telecom, Smart telecom to do mobile money transactions, buy data and airtime. They will also do bill payments. With favorable market conditions, various mobile banking and electronic payment initiatives have been launched in recent years. This however, has yet to achieve widespread acceptance. To date, there are just thousands of subscribers for mobile banking and payment services. There is, therefore, a significant untapped and potentially lucrative market for electronic payments platforms which businesses like Pay It Uganda want to tap into.