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Pearl Bank Uganda and Stanbic Bank Uganda have integrated their digital wallets, Wendi and FlexiPay, in a partnership aimed at accelerating financial inclusion and digital transformation across the nation.
The integration, announced Thursday at a joint news briefing in Kampala, allows the platforms’ combined user base of more than 1 million people to transact seamlessly at significantly reduced fees.
The banks hailed the move as a collaboration over competition that will make financial services more accessible and affordable for millions of Ugandans.
Mumba Kenneth Kalifungwa, chief executive of Stanbic Bank Uganda, said the integration breaks down “digital walls.”
“This partnership is a win for ordinary Ugandans,” Kalifungwa said. “By connecting FlexiPay and Wendi, we are ensuring that no matter where you live or who you bank with, you can transact safely and affordably.”
He added that the move directly supports Stanbic’s growth agenda for women, youth and farmers. FlexiPay, which has a network of more than 17,800 agents, enables users to pay bills and access credit.
Julius Kakeeto, managing director and chief executive of Pearl Bank Uganda, highlighted Wendi’s role in implementing government programs, such as the Parish Development Model, by facilitating disbursements to beneficiaries in rural communities.
“Wendi has been at the heart of implementing government programs that promote financial inclusion,” Kakeeto said. “With a customer base of over 1 million and an agent base of over 8,000, the partnership with FlexiPay is timely because our users will gain greater convenience and access to a wider merchant and agent network.”
He noted that Wendi was designed to include Ugandans in the money economy, allowing them to transact, save securely, and earn a 10 percent annual interest on savings.
The integration removes barriers that have traditionally made digital transactions between networks slow and costly. Wendi, formerly PostBank Uganda, has also partnered with Western Union to enable users to receive international remittances directly into their wallets.
The National Financial Inclusion Strategy (2023-2028) indicates that access to formal financial services in Uganda has improved from 52 percent in 2013 to 68 percent in 2023, largely driven by digital innovation, however, many rural Ugandans remain excluded.
By combining Stanbic’s commercial scale with Pearl Bank’s national footprint, the collaboration is positioned as a powerful catalyst for expanding digital access, promoting cashless trade, and supporting livelihoods.
The institutions will roll out the integration in phases, beginning with joint awareness campaigns, shared agent support and merchant onboarding programs across key agricultural and trading regions.
The partnership is expected to reach deep into rural Uganda, particularly among farmers, youth entrepreneurs and women-led enterprises.
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