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The five companies join MTN and Airtel which, in May, were issued with Payment Systems Operator and Payment Service Provider licenses, respectively

Daily Monitor Tuesday June 01 2021 Summary Standalone business. E-commerce platforms of Airtel Uganda and MTN Uganda have automatically become standalone businesses from their parent companies –the telecoms, a move that is likely to drive partnerships among payment service providers. Advertisement Is it a good move, or a risky one? Whose business is it going to impact mostly? Is it the savers, banks or telecoms that have been managing mobile money services? These are the lingering questions in the corridors, sparked off by the recent pronouncement by Bank of Uganda (BoU) Governor Emmanuel T...

Daily Monitor Monday May 24 2021 Telecoms will now be required to register new businesses under which mobile money shall be operated. PHOTO | FILE Summary The licences, which were issued at the weekend by the National Payment System department at Bank of Uganda, will seek to ensure overall effectiveness and integrity of payment systems in the country, including mobile money. Advertisement Mobile money has been split as a standalone business which, going forward, will be regulated by Bank of Uganda as a financial service.  The move, which effectively takes mobile money away from telecom servi...