In a landmark move signaling collaboration over competition, Pearl Bank Uganda (formerly PostBank Uganda) and Stanbic Bank Uganda have announced the integration of their digital wallets — Wendi and FlexiPay — to enable seamless, low-cost transactions between users of both platforms.
The partnership, unveiled during a joint press briefing in Kampala on Thursday, marks a major step toward strengthening Uganda’s financial inclusion and digital transformation agenda.
Collectively, Wendi and FlexiPay serve more than one million users across the country, offering savings, credit, and e-commerce transaction services.
“This partnership is a win for ordinary Ugandans,” said Mumba Kalifungwa, Chief Executive, Stanbic Bank Uganda. “By connecting FlexiPay and Wendi, we are breaking down digital walls and ensuring that no matter where you live or who you bank with, you can transact safely and affordably.”
He added that the initiative aligns with Stanbic’s Women, Youth, and Farmers (WYF) growth agenda under its Positive Impact pillar on financial inclusion.
“FlexiPay enables users to pay merchants and utility bills at no or low charges while also allowing them to save or access credit on the platform.”
Julius Kakeeto, Managing Director and CEO of Pearl Bank Uganda, noted that Wendi has been central to implementing government-led financial inclusion programs across Uganda.
“With a customer base of over one million and an agent network exceeding 8,000, our partnership with FlexiPay is timely,” Kakeeto said. “It offers our users greater convenience and access to a wider merchant and agent ecosystem.”
He added that Wendi users earn 10% interest per annum on savings and that the integration aligns with Uganda’s National Financial Inclusion Strategy (2023–2028). “This collaboration brings us closer to ensuring that every Ugandan is part of the formal money economy,” Kakeeto said.
Expanding access and impact
FlexiPay currently operates through a network of more than 17,800 agents, serving over half a million retail and merchant wallets. It also supports hundreds of SACCOs under Stanbic Bank’s community financing programs.
Wendi, meanwhile, has played a key role in facilitating government disbursements under the Parish Development Model (PDM), reaching thousands of beneficiaries in rural and peri-urban areas.
Beyond government projects, Wendi has also partnered with Western Union to enable users to send and receive international remittances directly into their digital wallets — a significant milestone in bridging cross-border financial inclusion.
The integration of Wendi and FlexiPay will allow users on either platform to send, receive, and make payments seamlessly, removing traditional barriers that have made digital transactions between networks slow and costly.
According to FSD Uganda, access to formal financial services in Uganda has improved from 52% in 2013 to 68% in 2023, largely due to mobile and digital innovations.
However, many rural Ugandans — particularly women, youth, and smallholder farmers — remain underserved.
The Pearl Bank–Stanbic collaboration aims to close this gap by promoting cashless trade, rural entrepreneurship, and inclusive finance.
The integration will be rolled out in phases, beginning with joint awareness campaigns, shared agent support, and merchant onboarding across key agricultural and trading regions.
By leveraging Stanbic’s commercial scale and Pearl Bank’s national footprint, the partnership is expected to deepen access to affordable financial services, empower small enterprises, and accelerate Uganda’s journey toward a fully inclusive digital economy.
