Stanbic unveils UGX 100 million FlexiPay campaign to drive financial inclusion

June 20, 2025 in Business, Companies, Financial Services, Trade & Industry by Editor

Stanbic Bank Uganda has launched a three-month nationwide campaign to promote FlexiPay, its digital payments platform, with a promise of over UGX 100 million in prizes and cashback rewards to users.

Dubbed the FlexiPay Cashback Explosion, the campaign will run for 90 days and targets everyday consumers making bill payments of UGX 50,000 or more, with lucky winners standing a chance to bag prizes including the headline-grabbing supermarket trolley dash.

Speaking at the launch held at Boda Boda Banja offices in Kampala, Melisa Nyakwera, Stanbic’s Head of Commercial Banking, said the campaign is part of the bank’s broader agenda to drive digital adoption and financial inclusion across Uganda.

“With FlexiPay, we’re not just offering a wallet — we’re enabling businesses and individuals to thrive in a digital-first economy. It’s a powerful tool for transforming how Ugandans transact daily,” Nyakwera said.

FlexiPay, launched in 2022, has over 1.5 million active wallets and facilitates cross-network transactions, bill payments, ticketing, and international money transfers. In 2024, it handled over UGX 30 billion in inbound remittances from over 25 countries.

One of the early adopters, Boda Boda Banja, credits the platform with transforming its operations. “We moved from risky, cash-heavy transactions to a secure digital system. FlexiPay has made our operations seamless and safer,” said Saurabh Jain, the company’s COO.

The firm, which has disbursed over 80,000 motorcycles to Ugandan youth and employs 400 staff, is now urging other SMEs to go digital. “Whether in rural or urban Uganda, our clients can pay instantly, securely, and without the burden of travel,” Jain added.

Dan Atuhairwe, FlexiPay Product Lead, said the campaign is designed to reward both new and loyal users. “We’ve partnered with hundreds of merchants — from bars and boutiques to supermarkets and fuel stations — to make FlexiPay accessible everywhere,” he said.

Users also benefit from a 10pc instant cashback on transactions above UGX 50,000. According to Atuhairwe, this applies whether users are dining out, fuelling up, or shopping — offering real savings for every cashless transaction.

Stanbic says security remains a top priority, with FlexiPay leveraging advanced technologies to ensure safe and private transactions.

FlexiPay’s impact on financial inclusion has attracted recognition from development partners such as IFAD. With expanding international reach and growing domestic usage, the platform continues to shape Uganda’s journey toward a digital economy.