Bank of India Uganda launches its first debit cards in Kampala
By the AFREEQUE newsroom, based on Daily Monitor
Bank of India Uganda is launching its first Verve debit cards after 14 years of operating in the country. The initiative aims to move its customers from branch transactions to card payments and withdrawals in a market still dominated by mobile money, the Daily Monitor reports.
Bank of India Uganda launched its first debit cards in Kampala on Monday 19 October 2026, the Daily Monitor reports. The bank, a wholly owned subsidiary of Bank of India, began operating in Uganda in June 2012.
Debit card payments amounted to 561.5 billion Ugandan shillings, with more than 3.8 million active cards, according to central bank data. Mobile payments remain dominant, however: transactions totalled 263 trillion shillings in the first seven months of 2026. While 66% of adults use mobile money, only 9% actively use internet or mobile banking services, the Daily Monitor says.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
