Experts advise customers on payments systems, calls for promotion of non-surcharge transactions.
Digital payment platforms including POS machines, ATMs are increasingly being used by customer, however there is still need to sensitize the public on the security and safety of using them, to avoid fraud. Also the cost associated with using the platforms need to be addressed.
Drake Nyamugabwa
Business and Financial experts have convened to discuss the advantages and disadvantages of using cash payment and digital payments. The experts have highlighted that each payment system though embraced by customers have some challenges associated with each system. The consented that with the advent of digital payment systems, there is need to sensitize the public on the best way to use them while safe and secure.
During a webinar organized by Uganda Bankers Association (UBA), together with Visa and Master Card dubbed “Cash Vs Card who wins” Patricia Anite from Uganda Bankers Association (UBA) called for the promotion of using digital payments especially cards during transaction in various merchant sale points available. She cautioned traders against charging extra cost on customer while making payment.
“We continue to promote the use of cards as a means of payment, but also at point of sale, do not add surcharge on customer payments” she said.
The Chairman, Kampala City Traders Association (KACITA) Everesto Kayondo, (in picture above) expressed concern on the challenges of digital payment by KACITA members which he said is minimally considered because of the high risk of fraud associated with it. He said that most of the customers are preferring the use of cash because it can be used anywhere eve without point-of-sale machines as compared to card payment which are prone to manipulation.
“It’s safe to use cash because its available, there are cost implication associated with the use of digital payments. Digital is not accepted everywhere, it can be manipulated” he said
Peter Kawumi, Country General Manager, Interswitch East Africa (U) Ltd, highlighted that the use of digital payments systems is increasing on a high rate in Uganda with the existence of thousands of point-of-sale machines, ATMs among other tools.
He added that there still more digital machines going to be installed in many others business venues to ease payment and facilitate trade.
“There is an increase in the use of digital channels of payment. In terms of card usage, we will ensure tightening the security features to ensure safety. There is visibility of point-of-sale machines and ATMs” he said
The Head of Card Acquiring, Absa Bank, Arnold Kweisga, said there is need to ensure that safety and security measures are educated to the customers before using online payments to avoid fraud and manipulation.
He mentioned that Absa in order to avoid a second person from accessing and using a card, they have issued a onetime password that the customer has on their own to change to the desired password, educated customers not to reveal the security features, use of secure websites among other measures.
Participants of the webinar also won prizes during the event in the UBA webinar competition. Among the winners, Anne Lydia Sekandi applauded the UBA initiative after winning Visa goodies.
