The bank said the product responds to what it describes as growing international payment needs among Ugandan consumers and businesses, as the country becomes more integrated into global trade and education flows. Exim Bank Uganda operates seven branches and more than 9,500 agents through a shared platform, giving the product a relatively broad domestic distribution base from day one.

TerraPay’s model centres on providing a single integration point through which partner banks and financial institutions can reach its network, rather than requiring each institution to build and maintain multiple bilateral correspondent relationships. The company says its infrastructure covers 156 countries, connects to more than 7.5 billion bank accounts and reaches mobile wallets and cards as well as traditional accounts.

Edward Kanyike, managing director of Exim Bank Uganda, said the launch reflects a wider shift in how customers expect international transactions to work. “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.”

Willie Kanyeki, TerraPay’s vice president for Sub-Saharan Africa, framed the partnership in infrastructure terms. “Cross-border payments should enable economic participation, not create friction around it,” he said. “It is another step towards building greater interoperability between local financial institutions and global payment networks.”

The release did not disclose commercial terms, transaction volumes, pricing or a target for payment corridors to be activated at launch.

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