Absa Bank Uganda has today launched three innovative digital payment solutions: Absa Multi-Currency Virtual Card, Absa Pay, and Absa Pay by Link, all designed to make banking more convenient, secure, and accessible for individuals and businesses.
The Absa Multi-Currency Virtual Card enables users to hold and manage up to five currencies, including Uganda Shillings (UGX), US Dollars (USD), Euros (EUR), Pounds (GBP), and South African Rand (ZAR), on a single platform. Customers can create virtual cards in real time, making it easy to manage international payments for travel, online shopping, or business expenses. This solution empowers customers to manage cross‑border transactions on their own terms, lock in favourable currency rates, and reduce costs, all within a secure, digital-first environment.
Absa Pay is a self-registration service that gives customers instant access to a digital debit or credit card, eliminating the need to carry a physical card. Customers can register and activate the service through the Absa Internet Banking App under Card Management. Once activated, users can make secure, contactless payments directly from their phones. This solution addresses the growing demand for convenience, flexibility, and security in everyday payments.
Absa Pay by Link is designed for Business Banking customers seeking a fast, secure way to receive payments. Businesses can generate a secure payment link and share it with customers, who can pay using any Visa-enabled card. Payments are settled instantly into the Absa account, reducing reliance on cash and streamlining business operations. This solution is ideal for SMEs, traders, and service providers looking to accelerate sales and scale efficiently.
Speaking at the launch, Moses Rutahigwa, Retail and Business Banking Director, Absa Bank Uganda, said these solutions simplify payments both locally and internationally. From managing multiple currencies while travelling or transacting online, to enabling fast, contactless payments for everyday use, and supporting SMEs with instant settlement, he emphasizes that the innovations reflect the bank’s commitment to empowering its customers in today’s digital economy.
These product launches come at a time when digital payments are surging across Uganda. According to the Bank of Uganda’s Integrated Annual Report for June 2025, active mobile banking users increased by 6.5% to 2.1 million, while the value of mobile banking transactions soared 39.4% to UGX 15.5 trillion.
“These innovations arrive at a time when digital payments in Uganda are surging,” said Chad Pollock, VP and GM, Visa East Africa, while pointing out that with over 2.1 million active mobile banking users and transaction values reaching UGX15.5 trillion, it is clear that Ugandans are ready for digital-first solutions that are seamless, safe, and fit for purpose.
Rutahigwa noted that the rapid growth in digital payments over the last four years confirms that Ugandans are ready for fast, secure, and convenient digital-first payment solutions, both locally and internationally. Therefore, these new solutions are timely and relevant as they align with the rapid digital transformation taking place in Uganda.
All three solutions leverage advanced cybersecurity to guarantee a secure, seamless digital banking experience.
These innovations form part of Absa Bank Uganda’s broader strategy to drive customer-led growth, enhance digital capabilities, and empower individuals and businesses to make smarter, more confident financial decisions.