{"id":7940,"date":"2021-04-08T16:40:27","date_gmt":"2021-04-08T16:40:27","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=7940"},"modified":"2021-04-08T16:04:40","modified_gmt":"2021-04-08T16:04:40","slug":"99-of-motor-third-party-paid-using-mobile-money","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money","title":{"rendered":"99% of motor third party paid using mobile money"},"content":{"rendered":"

Africa-Press<\/a> – Uganda<\/a>. <\/strong><\/span>Telecoms enabled payment of at least Shs16.4b for Motor Third Party between July 2020 and March, according to data from Insurance Regulatory Authority (IRA) Motor Third Party, which is a statutory insurance payment for motorists, has in the past presented challenges in terms of collection after the anti-fraud unit of IRA discovered forged stickers among motorists.<\/p>\n

Data from IRA indicates that mobile money was the most preferred mode of payment for Motor Third Party insurance during the period under review.<\/p>\n

Of the Shs16.5b collected in premium payments since July, more than 99 per cent (Shs16.4b) was through mobile money while only Shs39m paid in banks.<\/p>\n

Ms Mariam Nalunkuuma, the IRA spokesperson, said yesterday the growth had been a because of the convenience and instant nature of mobile money.<\/p>\n

\u201cMobile money is an instantaneous and convenient service which can be utilised \u2026 with no need to line up anywhere,\u201d she said.<\/p>\n

Impact<\/b><\/p>\n

Mr Samuel Muhereza, a corporate worker in Kampala, told Daily Monitor he had first used the service through his MTN mobile money account in July after it had been launched.<\/p>\n

\u201cIt was quick and convenient. I was not a in rush to pick the sticker because I had paid. I only picked it on my way home,\u201d he said.<\/p>\n

Ms Nalunkuuma said mobile money payments have been instrumental in curbing market fraud, noting forgery of stickers and cheating of customers had substantially reduced.<\/p>\n

\u201cPreviously, one would pay more premium than required but the system now has that information pre-generated,\u201d she said, adding that undercutting has been reduced because of predetermined pricing in the system.<\/p>\n

Undercutting is used by players to drive out competition through setting low product prices.<\/p>\n

Covid-19 spurs online payments<\/b><\/p>\n

Prior to the introduction of the platform, motorists were required to visit stalls of motor third party selling agents to make the insurance payment.<\/p>\n

This method was hugely affected by the onset of Covid-19, which occasioned a lockdown thus limiting movement of people around the country.<\/p>\n

Consequently, the motor third party a mobile payment platform was a timely innovation as it limits movement and eliminates exchange of cash.<\/p>\n

Effective collection of motor third party insurance, which houses a tax component to Uganda Revenue Authority ensures government revenue is collected towards better service delivery.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Telecoms enabled payment of at least Shs16.4b for Motor Third Party between July 2020 and March, according to data from Insurance Regulatory Authority (IRA) Motor Third Party, which is a statutory insurance payment for motorists, has in the past presented challenges in terms of collection after the anti-fraud unit of IRA discovered […]<\/p>\n","protected":false},"author":84,"featured_media":7939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-7940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\n99% of motor third party paid using mobile money - Uganda<\/title>\n<meta name=\"description\" content=\"Telecoms enabled payment of at least Shs16.4b for Motor Third Party between July 2020 and March, according to data from ...\" \/>\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\/99-of-motor-third-party-paid-using-mobile-money\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"99% of motor third party paid using mobile money\" \/>\n<meta property=\"og:description\" content=\"Telecoms enabled payment of at least Shs16.4b for Motor Third Party between July 2020 and March, according to data from ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money\" \/>\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=\"2021-04-08T16:40:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/04\/img-606f297c58215.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\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\/99-of-motor-third-party-paid-using-mobile-money#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"99% of motor third party paid using mobile money\",\"datePublished\":\"2021-04-08T16:40:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money\"},\"wordCount\":388,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/04\/img-606f297c58215.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/99-of-motor-third-party-paid-using-mobile-money\",\"name\":\"99% of motor third party paid using mobile money - 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