{"id":60756,"date":"2023-11-23T17:20:46","date_gmt":"2023-11-23T17:20:46","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=60756"},"modified":"2023-11-23T15:18:16","modified_gmt":"2023-11-23T15:18:16","slug":"inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou","title":{"rendered":"Inter operator fees still challenge to digital financial inclusion, says BoU"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>For Uganda to go to the next stage of financial development, fees related to inter-operator services must be significantly come down or totally eliminated, according to Bank of Uganda.<\/b><\/p>\n

The fees, among other obstacles remain a challenge to full adaptability of digital financial services, Mr Andrew Kawere, the Bank of Uganda National Payment Systems deputy director, said during the Digital and Financial Inclusion Summit in Kampala, noting that barriers resulting from inter operator requirements have marginalized a section of Ugandans from advancing their financial knowledge.<\/p>\n

Such barriers, he said, lead to high transactional fees, which adversely affects digital innovations and banking, citing an example of how at a certain point mobile money companies had been alien to the idea of sharing agents with the view of protecting their business zones.<\/p>\n

\u201cThere are several other facets around interoperatory that need to be addressed, a case in point bank to wallet and wallet to bank that require banks to have bilateral arrangements for the payment service provider or e-money user. Considering the 25 non-bank entities that have been licensed and 25 licensed commercial banks, this means that more than 600 bilateral arrangements must be executed if all banks support the bank to wallet payments,\u201d he said.<\/p>\n

This, Mr Kawere said, breed inefficiency and affects transaction pricing thereby impacting usage of financial services and innovation.<\/p>\n

The 2023 Digital and Financial Inclusion Summit, which also coincided with the 10th edition of the Digital Impact Awards Africa, sought to create a platform for the promotion of cyber security, financial inclusion, digital inclusion and showcase companies that have excelled in digital innovations.<\/p>\n

Mr Kawere also indicated that Bank of Uganda had begun working on the national payments switch- National Payment Act 2020, which will help in regulating and supervising other financial market infrastructure as well as unify fees and charges in digital payments.<\/p>\n

Since commencement 14 years ago, mobile money has continued to grow significantly with the value of transactions increasing by 22.6 percent from Shs156 trillion in June 2022 to Shs191.3 in June 2023.<\/p>\n

Data from banks also indicate that wallet to bank transfers have increased by 21.8 percent from 4.76 billion transactions in 2022 to 5.8 billion with approximately Shs19 trillion.<\/p>\n

Mr Innocent Kawooya, the HiPiPo chief executive officer, said, Fintechs remain key in eliminating barriers that limit Ugandans from accessing financial services especially in rural areas, among which include smallholder farmers.<\/p>\n

Financial inclusion, he said, is essential in eradicating poverty, which is central in meeting social development goals, thus making it necessary to eliminate challenges faced due to inter operator requirements.<\/p>\n

\u201cWe are hopeful that the national payment switch will increase financial inclusion,\u201d he said.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. For Uganda to go to the next stage of financial development, fees related to inter-operator services must be significantly come down or totally eliminated, according to Bank of Uganda. The fees, among other obstacles remain a challenge to full adaptability of digital financial services, Mr Andrew Kawere, the Bank of Uganda National […]<\/p>\n","protected":false},"author":84,"featured_media":60755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9,258],"tags":[233,240,234],"class_list":["post-60756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","category-to-homepage","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nInter operator fees still challenge to digital financial inclusion, says BoU - Uganda<\/title>\n<meta name=\"description\" content=\"For Uganda to go to the next stage of financial development, fees related to inter-operator services must be signific ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inter operator fees still challenge to digital financial inclusion, says BoU\" \/>\n<meta property=\"og:description\" content=\"For Uganda to go to the next stage of financial development, fees related to inter-operator services must be signific ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-23T17:20:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Inter operator fees still challenge to digital financial inclusion, says BoU\",\"datePublished\":\"2023-11-23T17:20:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\"},\"wordCount\":452,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"miscellaneous\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\",\"name\":\"Inter operator fees still challenge to digital financial inclusion, says BoU - Uganda\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg\",\"datePublished\":\"2023-11-23T17:20:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"For Uganda to go to the next stage of financial development, fees related to inter-operator services must be signific ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Inter operator fees still challenge to digital financial inclusion, says BoU\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/uganda\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inter operator fees still challenge to digital financial inclusion, says BoU\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#website\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/\",\"name\":\"Uganda\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/uganda\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Inter operator fees still challenge to digital financial inclusion, says BoU - Uganda","description":"For Uganda to go to the next stage of financial development, fees related to inter-operator services must be signific ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou","og_locale":"en_US","og_type":"article","og_title":"Inter operator fees still challenge to digital financial inclusion, says BoU","og_description":"For Uganda to go to the next stage of financial development, fees related to inter-operator services must be signific ...","og_url":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou","og_site_name":"Uganda","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-11-23T17:20:46+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Inter operator fees still challenge to digital financial inclusion, says BoU","datePublished":"2023-11-23T17:20:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou"},"wordCount":452,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg","keywords":["Africa Press","Africa Press-Uganda","uganda"],"articleSection":["all news","miscellaneous","to-homepage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou","url":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou","name":"Inter operator fees still challenge to digital financial inclusion, says BoU - Uganda","isPartOf":{"@id":"https:\/\/www.africa-press.net\/uganda\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg","datePublished":"2023-11-23T17:20:46+00:00","author":{"@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"For Uganda to go to the next stage of financial development, fees related to inter-operator services must be signific ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#primaryimage","url":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg","contentUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/11\/sm_1700738214.532033.jpg","width":1280,"height":720,"caption":"Inter operator fees still challenge to digital financial inclusion, says BoU"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/inter-operator-fees-still-challenge-to-digital-financial-inclusion-says-bou#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/uganda\/"},{"@type":"ListItem","position":2,"name":"Inter operator fees still challenge to digital financial inclusion, says BoU"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/uganda\/#website","url":"https:\/\/www.africa-press.net\/uganda\/","name":"Uganda","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/uganda\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts\/60756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/comments?post=60756"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts\/60756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/media\/60755"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/media?parent=60756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/categories?post=60756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/tags?post=60756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}