In a landmark partnership that underscores collaboration over competition, Pearl Bank Uganda (formerly PostBank Uganda), a leading government-owned financial institution, and Stanbic Bank Uganda, the country’s largest commercial bank, have announced the integration of their digital wallets — Wendi and FlexiPay.
Collectively serving over one million users, both platforms provide savings, credit, and e-commerce transaction services. This integration will enable users of either platform to transact seamlessly at significantly reduced fees, marking a major step toward making digital financial services more affordable, accessible, and inclusive across Uganda.
The announcement was made at a joint press briefing in Kampala, where the two banks reaffirmed their shared commitment to advancing Uganda’s financial inclusion and digital transformation agenda.
Leaders Speak Out
Mumba Kenneth Kalifungwa, Chief Executive of Stanbic Bank Uganda, hailed the partnership as “a win for ordinary Ugandans.” “By connecting FlexiPay and Wendi, we are breaking down digital barriers and ensuring that no matter where you live or who you bank with, you can transact safely and affordably,” Kalifungwa said.
“This directly supports Stanbic’s growth agenda for Women, Youth, and Farmers (WYF) under our Positive Impact pillar on Financial Inclusion. FlexiPay enables users to make payments, pay bills, and access credit or savings options at no or low cost — helping Ugandans take full advantage of the digital economy.”
Julius Kakeeto, Managing Director and CEO of Pearl Bank Uganda, emphasised Wendi’s role in advancing government-led financial inclusion programs: “Wendi has been central to implementing initiatives that promote financial inclusion nationwide, empowering Ugandans to fully participate in the digital financial ecosystem,” Kakeeto said.
“With over one million customers and more than 8,000 agents, our partnership with FlexiPay brings greater convenience and a wider merchant network to our users. Wendi was designed to help Ugandans transact and save securely while earning 10% annual interest on their savings. This collaboration moves us closer to realising the goals of Uganda’s National Financial Inclusion Strategy (2023–2028).”
Expanding Access and Impact
FlexiPay boasts a distribution network of over 17,800 agents, serving more than half a million retail and merchant wallets across Uganda. It is also integral to Stanbic Bank’s support for SACCOs, empowering hundreds of cooperatives to operate digitally.
Wendi, meanwhile, has rapidly expanded its reach — playing a pivotal role in facilitating government disbursements under the Parish Development Model (PDM) and extending services to thousands in rural communities. Through a partnership with Western Union, Wendi also enables users to receive international remittances directly into their digital wallets, bridging a critical gap in cross-border financial inclusion.
The integration will allow users to send, receive, and make payments seamlessly across both platforms — removing the friction, delays, and costs that have traditionally hindered interoperability between digital financial services.
Driving Uganda’s Digital Transformation
According to the National Financial Inclusion Strategy (2023–2028), access to formal financial services in Uganda has grown from 52% in 2013 to 68% in 2023 (FSD Uganda), largely driven by mobile and digital innovations. Yet, many rural Ugandans — especially women, youth, and farmers — remain excluded from the formal financial ecosystem.
By combining Stanbic Bank’s commercial scale with Pearl Bank’s nationwide footprint, this partnership is poised to extend digital access deeper into rural Uganda, particularly among smallholder farmers, youth entrepreneurs, and women-led enterprises.
The rollout will be implemented in phases, starting with joint awareness campaigns, shared agent support, and merchant onboarding programs across key agricultural and trading regions. Together, Wendi and FlexiPay are not just merging platforms — they are building bridges to a more inclusive, cashless, and connected Uganda.
