Rwandan banks have rolled out multiple options for digital payment as the financial sector moves seek to drive adoption of cashless payments. This is part of the country’s move to increase uptake and use of cashless payment in a bid to limit chances of spread of the Covid-19 pandemic as well as towards national ambitions of cashless payments.
Various banks have set out unique and convenient cashless payment options. Among the top options include:
Card payments: A majority of Rwandan banks issue debit cards that allow clients to make payments for goods and services via point of sales devices across the country. The debit cards can also be used to pay for online purchases bought virtually. Inquire from your respective bank on card options.
Mobile Money Provisions: A number of local banks have partnered with local telecom operators to allow transfer of funds from bank accounts to mobile wallets to make payments for goods and services. The linkages with mobile money accounts allow users to easily access their accounts and transfer funds for payment via their phones. Inquire from your respective bank on the availability of the service.
Scan and Pay: Innovation in the local financial sector has also made it possible for a section of bank users to make payments for goods and services by scanning codes that allow them to access their accounts to transfer funds.
Internet Banking: Some local banks have set up web based solutions that allow clients access their bank accounts via the internet irrespective of their location. The platforms have been built aware of the online challenges such as hacking and are built to be secure, fast, user-friendly and efficient.
Mobile Applications: With mobile banking increasingly becoming popular, local operators have made it possible for users to conduct financial transactions on their devices such as mobile phones and tablets through Apps and USSD. The applications allow transfer of funds, payment for goods and services including utilities.