30,000 aimed a shot at Stanbic Dash

January 10, 2017 in Business, Companies, Financial Services by Editor

Kampala January 10 – Stanbic Uganda’s December debit and credit card promotion dubbed the Xmas Dash
saw some 30,000 card holders’ swipe during the 27 days it was on.

Intended to promote use of non-cash payments, the promo involved card holders using their cards to pay for their shopping. Rewards started with shopping worth Ushs 50,000. Participants were required to post a selfie’ on the bank’s social media pages in order to give a shot at the grand prize, a dash through selected stores where one would take all the shopping they could collect within a minute for free.

“This is a positive sign that more and more Ugandans are appreciating the value of using credit and debit cards as opposed to cash which can be risky to carry. This is the main reason we are rewarding and encouraging customers to use cards as a payment alternative,” said Damalie Sajjabi the Card Payments, Issuing and Acquiring Manager at Stanbic Uganda.

Although the promo was organized to promote increased usage of digital channels and cashless banking, Fred Muhumuza a development Economist says the growth of plastic money usage in Uganda is undermined by the concentration of POS machines and ATMs almost exclusively in urban areas.

“It is imperative for banks to promote cashless banking through a combination of awareness and development of linkages with other payment platforms such as mobile money,” Muhumuza argues.

With 170 ATM’s and 493 visa enabled POS terminals, Stanbic has the largest ATM electronic banking network in Uganda.