Absa Bank Uganda has in partnership with Visa, has launched three new premium card solutions—Infinite, Signature, and Business Credit Cards in a move aimed at expanding its card portfolio.
Speaking on Thursday, David Wandera, the Interim Managing Director of Absa Bank Uganda said the move is aimed at catering to the unique needs of affluent and business customers.
“These new card offerings are designed to address the evolving needs of our high-value customers who travel frequently, conduct business globally, and demand seamless financial solutions. Partnering with Visa allows us to expand our personal card range with premium products that attract and retain high-net-worth clients while driving growth across all segments,” Wandera stated.
He said the introduction of the cards is testament to their commitment to delivering seamless worldclass solutions to elevate customer experience.
“Our strategy has always been to stay ahead of the curve, leveraging insights from market research, customer feedback and global trends to develop solutions that resonate with our customers. The world of finance is changing and so are the expectations of the customer. We therefore aim at serving the needs of our customers,” Wandera added.
“These cards are a lifestyle enabler by providing access to exclusive privileges.”
The cards
Customers who sign up for the Infinite and Signature Cards will enjoy an array of exclusive privileges, including 24/7 concierge services for one-on-one booking assistance, luxury airport lounge access and customized airport experiences, comprehensive travel and medical insurance for multiple trips and purchase protection, extended warranties, and special hotel offers through the Visa Hotel Collection
On the other side, the Business Credit card offers centralized expense management solutions, detailed business reporting and real-time spending insights, customizable payment controls to set limits and block spending categories, corporate card liability insurance waivers.
“Our partnership with Absa Uganda has always been built on a foundation of trust, innovation, and a shared vision of financial inclusion. Over the years, we have worked together to introduce products and services that meet the evolving needs of Absa Uganda’s customers. The launch of these new Visa cards is a testament to our continued collaboration and our dedication to offering unparalleled value and convenience to customers,” said Chad Pollock, Vice President and General Manager of Visa East Africa.
According to the Uganda Bankers Association 2023 Banking Sector Report, digital transactions including point-of-sale payments, debit card transactions, mobile banking, and internet banking have significantly increased.
The report highlighted a rise in the total debit card transaction value, from shs 532.9 billion in Q3 2023 to shs 581.1 billion in Q4 2023, indicating growing consumer confidence in digital payments.
As of December 2024, Absa Bank Uganda holds 18.5% payment volume (PV) growth against market with PV growth at 11% and active card growth of 15% against total market growth rate of 2% which positions Absa bank Uganda the issuing market leader in Uganda.
Albert Byaruhanga, the acting Retail and Business Banking Director at Absa Bank Uganda, emphasized the bank’s continued investment in security measures to protect customer funds.
“Our commitment to cybersecurity remains a top priority. We have implemented robust security protocols and continue to enhance fraud prevention measures to safeguard our customers’ transactions and personal data,” Byaruhanga said.
