Visa has announced plans to launch Visa Pay in Uganda, introducing a virtual card-based solution aimed at enabling users to send and receive money instantly for online payments and digital transactions.
The company said the platform is designed to give users immediate access to digital payment services without waiting for physical cards, a move expected to accelerate Uganda’s transition from cash-based transactions to electronic payments.
Speaking during an engagement in Kampala, Sullivan Godfrey, Senior Vice President for Products and Solutions in Central and Eastern Europe, Middle East and Africa (CEMEA), described Uganda as a strategic growth market.
“Uganda represents one of the most dynamic and promising markets in the region,” Godfrey said. “Our goal is to ensure that whether someone is transacting in Kampala or in a rural trading centre, they can access secure, seamless and globally trusted payment solutions.”
He added that over the next three to five years, digital wallets are expected to become more common as consumers grow more comfortable with virtual payment options.
“We believe people’s wallets will become lighter because digital payments will increasingly replace cash. The future is instant, secure and convenient,” he said. “Visa Pay removes barriers by eliminating the need to wait for a physical card before transacting online.”
Despite gains in financial inclusion, Visa estimates that approximately 66 percent of transactions in Uganda are still cash-based, presenting what the company calls a significant opportunity for digital expansion.
Michael Berner, General Manager and Vice President for Southern and Eastern Africa at Visa, said reducing reliance on cash would strengthen the broader financial ecosystem.
“Cash remains our biggest competitor,” Berner noted. “However, digital payments offer greater transparency, improved security and better record-keeping for both individuals and businesses. This is essential for building trust in the financial system.”
He added that digital transaction histories can help small businesses access formal credit.
“When merchants transact digitally, they create a financial footprint. That data can support credit scoring and open doors to financing that would otherwise be unavailable,” Berner said.
Visa officials outlined several technologies tailored to Uganda’s operating environment. These include EMV chip-enabled cards that can complete transactions even in areas with unreliable internet connectivity, as well as Visa QR, which enables merchants to accept payments by scanning a quick response code.
Godfrey emphasised that innovation must reflect local realities.
“We understand that connectivity challenges exist in some areas. Our technologies are built to operate effectively even in low-bandwidth environments,” he said. “Innovation only works when it is inclusive.”
In the coming months, the company plans to roll out Visa Accept, a tap-to-phone solution that will allow merchants to receive payments directly on their smartphones, eliminating the need for traditional point-of-sale terminals.
“Visa Accept will be transformative for small and medium-sized enterprises,” Godfrey said. “With just a smartphone, a business owner can begin accepting secure card payments instantly. That lowers entry costs and expands opportunity.”
As digital adoption increases, Visa says it is intensifying investments in cybersecurity and fraud prevention systems.
“Security is the foundation of everything we do,” Berner said. “We are continuously upgrading our systems, investing in artificial intelligence-driven fraud detection and strengthening data protection to stay ahead of evolving cyber threats.”
He stressed that maintaining consumer trust is critical to long-term growth.
“If customers do not feel safe, they will not adopt digital solutions. Our responsibility is to ensure every transaction is protected,” he said.
Beyond domestic payments, Visa is exploring the potential use of stablecoins to facilitate faster and more affordable cross-border transactions. The company says this could help reduce remittance costs for Uganda’s diaspora, where transfer fees often range between 7 and 12 percent.
“Remittances are a lifeline for many families,” Berner said. “If we can make cross-border payments faster, cheaper and more transparent, that has a direct impact on household incomes and small businesses.”
He added that simplified cross-border payment systems could also benefit small merchants who import goods.
“Uganda has many entrepreneurs sourcing products from abroad. Faster settlement times improve liquidity and allow businesses to plan better,” he said.
Visa’s broader regional strategy integrates operations across East Africa, including Uganda, Tanzania and Kenya, while maintaining localised execution tailored to individual markets.
Company executives reiterated that digital payments are not merely about replacing cash but about unlocking wider economic opportunities.
“Digital payments are a gateway to financial inclusion,” Godfrey said. “They enable access to credit, formalise businesses and ultimately contribute to sustainable economic growth.”
“As we expand in Uganda, our focus remains clear — partnership, innovation and trust,” he added. “That is how we build a truly inclusive digital economy.”
