Stanbic Bank launches new FlexiPay Campaign to Promote Financial Inclusion

Stanbic Bank Uganda today announced the launch of an exciting, three-month nationwide campaign to boost its innovative digital payments platform FlexiPay.

The campaign dubbed the Flexipay Cashback Explosion kicked off at the offices of Boda Boda Banja, one of the bank’s key merchant partners in Kampala, with the goal of revolutionizing everyday transactions and accelerating digital adoption across Uganda.

According to Melisa Nyakwera, Stanbic Bank’s Head of Commercial Banking, this initiative is part of a broader effort to promote digital adoption, enhance financial inclusion, and empower Ugandans to embrace a cashless lifestyle.

“As the leading financial institution, digital innovation is central to Uganda’s growth. With FlexiPay, we’re building a smarter, more inclusive financial system that fuels business growth and improves lives. Something that perfectly aligns with our purpose: ‘Uganda is our home; we drive her growth’,” Nyakwera said.

She emphasized that FlexiPay is more than just a wallet; it’s a business enabler, delivering digital financial solutions that are relevant, accessible, and empowering for every Ugandan.

Saurabh Jain, Chief Operations Officer Boda Banja Limited, shared his company’s successful journey with FlexiPay which began in 2022.

He said, “Adopting FlexiPay was the best decision we ever made as a company. When we started operations in 2017, we relied heavily on cash payments, which posed risks from balancing books to theft and high defaults rates. FlexiPay, coupled with Stanbic’s agency banking, transformed our business operations and reduced these risks to almost zero.”

Saurabh urged other companies to integrate FlexiPay into their operations because it eliminates worries like agents not having enough cash or the hassle of travel.

He said,“Our clients can now pay from anywhere, be it market stalls, rural areas, or urban centers making payments seamless and safe.”

Boda Boda Banja employs over 400 staff and has provided more than 80,000 motorcycles to Ugandan youth, thus creating jobs.

Dan Atuhairwe, FlexiPay Product Lead, said over the course of the campaign, they will be giving away over UGX 100 million in prizes and cashbacks to both new and old customers for choosing the convenience and innovation of FlexiPay.

He urged clients to leverage the campaign’s opportunities citing that they have partnered with hundreds of merchants, restaurants, bars, boutiques, supermarkets, and fuel stations making it easier than ever to use FlexiPay. Simply dial *291# or use our mobile app to get started.”

Additionally, customers will enjoy a 10% instant cashback on every transaction above UGX 50,000. This means whether you’re fueling your car, shopping at a boutique, dining out, or stocking up at a supermarket, FlexiPay rewards your cashless lifestyle with immediate savings.

Speaking about security, Dan Atuhairwe emphasized that FlexiPay is committed to delivering secure digital financial solutions that are relevant, accessible, and empowering for every Ugandan.

He said, “We prioritize the safety of our customers’ transactions and data, ensuring peace of mind as users embrace a cashless lifestyle. Equipped with advanced security features and technology-driven protections, FlexiPay offers a reliable platform that enables you to perform your financial activities confidently, knowing your information and money are safeguarded at all times.”

Launched in 2022, FlexiPay has over the years become a cornerstone of Uganda’s digital transition, boasting over 1.5 million active wallets. The platform has transformed everyday financial activities enabling affordable cross-network transactions, bill payments, event ticketing, and more.

Additionally, FlexiPay now supports money remittances from over 25 countries worldwide, allowing Ugandans to send and receive funds from regions such as Asia, Europe, the UAE, and the Americas all with no charges. FlexiPay’s commitment to financial inclusion has been widely recognized by both local and international organizations, including IFAD. It has established itself as Uganda’s leading local money remittances platform, facilitating over UGX 30 billion in international remittances to Uganda in 2024 alone.