Airtel Uganda finishes versatile cash business move
Telecom organization, Airtel Uganda, has declared the culmination of the way toward isolating their portable cash business as needed by the law.
Telecom organization, Airtel Uganda, has reported the consummation of the way toward isolating their versatile cash business as needed by the law.
Under the National Payment Systems (NPS) Act, 2020, telecom organizations are needed to part as independent organizations; portable cash and telecom tasks.
The new law was passed in September 2020 and the NPS guidelines were periodical in March this year.
Therefore, in compliant with segment 9 of the demonstration, the Bank of Uganda in May reported the issuance of a few licenses to Airtel Mobile Commerce Uganda Limited including A Payment Service Provider permit which approves the organization to give electronic services(Airtel Money) and a Payment Systems Operator License – (Electronic Money Systems)which approves the organization to work an installment (Airtel Money)platform
In fact, the Airtel Money business has been moved to Airtel Mobile Commerce Uganda Limited , a member to Airtel Uganda.
Then again, Airtel Uganda will zero in on the activity of media transmission foundation and the arrangement of broadcast communications administrations to its organization endorsers and authorized administrators.
Talking about the new turn of events, Manoj Murali, the Airtel Uganda Managing Director said nothing will change with the administrations they give to clients.
“Because of the partition, the Airtel Money Accounts and related data will be relocated or imparted to the new organization, with a similar degree of security and insurance, and in consistence with the protection and information assurance laws of Uganda and the orders of Bank of Uganda and Uganda Communications Commission. Nothing changes from a client perspective,”Manoj said.
“The client stores are protected, secure and kept in legitimate business keeps money with a similar degree of insurance as other financial balances.”
The new advancement implies that the organization would now be able to work as an investment funds bank where clients can open bank accounts .
