Financial giants Standard Chartered Bank has partnered with telecom giants MTN Uganda Limited, a leading mobile money provider in Uganda, to launch Straight2Bank Wallet in the country.
First introduced by Standard Chartered in Kenya, Straight2Bank Wallet is a mobile wallet service that enables companies to make cashless payments to the MTN Mobile Money Wallets, of both banked and unbanked individuals. The Bank’s partnership with MTN will expand the coverage of Standard Chartered’s mobile wallet service in Africa, making it the sixth country in Africa where the service is available.
With the introduction of this new payment channel, Standard Chartered’s corporate clients in Uganda can now use the Bank’s Straight2Bank electronic banking platform to make payments directly into an individual’s MTN Mobile Money wallet. This allows clients to effectively reach out to their beneficiaries with timely payments, while mitigating the risks of fraud and theft associated with cash payments. #DepostiandWithdraw