Exim Bank Uganda has launched Exim Global Pay with TerraPay, a cross-border payments service for individuals and businesses in Uganda.

The new offering is designed to meet rising demand for international payments as Ugandan customers become more involved in trade, education, services and other activity abroad.

Using TerraPay's payments network, Exim Global Pay allows customers to send money internationally through the bank. The arrangement connects Exim Bank Uganda's local customer base and banking operations with TerraPay's cross-border infrastructure.

According to the companies, the service is intended for a range of payment needs, including business payments to overseas suppliers and partners, and personal payments for education, healthcare, travel, family support and other commitments outside Uganda.

For banks, one of the main attractions of working with a specialist cross-border network is avoiding the need to build separate links with multiple institutions and payment systems in different countries. Exim Bank Uganda said the partnership expands its international payment offering while keeping customers within its own banking channels.

Edward Kanyike, Managing Director, Exim Bank Uganda, outlined the bank's rationale for the launch.

"The introduction of Exim Global Pay reflects a broader shift in customer expectations around international financial transactions. The world has become remarkably connected. A business in Kampala can transact with a supplier thousands of kilometres away, a parent can pay for a child's education overseas, and an individual can have financial commitments in more than one country. What should not remain complicated is the payment that makes these transactions possible. With Exim Global Pay, we are responding to that reality.

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