Obopay, a leading mobile banking and payment solution provider globally on Monday collaborated with Warid Telecom, an Abu Dhabi Group company to launch a mobile banking and payment service, Warid Pesa, in Uganda.

Warid Pesa provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts.

“We understand that financial inclusion is the most important aspect in alleviating poverty inUganda,” said Shailenrda Naidu, Chief Commercial Officer, Warid Telecom, Uganda. “Warid Pesa is an attempt to establish innovative and convenient mobile money transfer and payments for those who don’t have access to banking service.

“Obopay’s pioneering services have been received very well in other African countries. Our association with Obopay is an assurance that the people of Uganda are provided with the best possible service in the country,” added  Naidu.

The government of Uganda recognizes that mobile banking and payments are major catalysts in the drive toward financial inclusion in Uganda. Through Warid Pesa, people of Uganda can avail themselves benefits of financial services that were until now inaccessible to a majority of the population.

“Warid Telecom is an important strategic partner for us and comes at the right time as we have been interested in venturing into the Ugandan market for some time,” said Deepak Chandnani, CEO, Obopay. “Our platform is ideally suited for the Uganda market. The service encompasses not only the needs of the consumer, but also is beneficial for retailers, agents and merchants.”

“Security is also always a primary concern when people undertake mobile payments,” added Chandnani. “Keeping this in mind, optimum security has been provided for payment transactions to ensure that there is no money laundering and the users’ hard earned money is safe.”