Housing Finance bank has come up with an innovation that is likely to change the face of banking in Uganda.

The M-Cash account, introduced last week, is bound to attract more Ugandans into the banking industry, reduce the reliance on bank branches, and limit the bank’s operation costs.

The account can be accessed using a mobile phone. There is also an option of using a prepaid account card, M-Card, which uses the latest Near Field Communication (NFC) technology.  The account also uses fingerprints or PIN numbers as security features.

MobiCash Africa is the technology solution provider for this platform. This platform facilitates transactions such as buying airtime, paying utility bills, school fees, fuel and online shopping.