Agency Banking is an alternative retail banking channel that leverages third party service providers (Agents) to extend access, inclusion and reach of financial services to remote areas where brick-and-mortar branches are often expensive to operationalize.
This implies that financial institutions can contract a party referred to as an agent to perform some banking services on their behalf. The changing dynamics and developments cannot allow institutions to stay seated at their premises waiting for customers to travel long distances to make transactions. With Agency Banking, your bank goes to their community and as Mcash we have made this possible by offering safe, efficient and robust technology to banks and such institutions. Our technology has been tried and proven through our different partner, banks and institutions.
On top of this we offer a 360 monitoring, training and guidance required to have the service in place.
Agents can either be sole proprietorships, Partnerships, Limited liability companies, Cooperative Societies, Microfinance Institutions or any other entity which the Central Bank approves to be fit for business. This therefore opens up a door for business owners to increase or grow their income through this new venture.
Our solutions are tailor made to meet the needs of your customers.
Contact us today for an Agency Banking solution that offers holistic approach to support your business with the latest tech developments.
The Government of Uganda through the Ministry of Agriculture Animal Industry and Fisheries (MAAIF) has received funding from World Bank towards the development of the Agriculture Cluster Development Project (ACDP). The main objective of ACDP is to raise on-farm productivity, production and market volumes of Beans, Rice, Maize, Cassava and Coffee in 12 geographical clusters making up 57 districts.
The World Bank partnered with the MAAIF in selecting M-Cash Uganda as winner, in the Financial Inclusion category, of the 2019 Disruptive Agricultural Technologies challenge.
Mcash, winner of the Financial inclusion category, is coming on board as a parallel system to the e-Voucher Management system to support enrollment of farmers in the roll-out districts in selected clusters.
M-Cash Uganda developed a new, secure database for the e-voucher management system working in parallel with the ACDP e-voucher management system. The project involves the training and equipping of the MAAIF staff, agricultural officers, and farmers to use the new system that provides a well monitored ecosystem for farmers to have access to industry-approved farming goods and services at affordable prices.
MAAIF contracted M-Cash Uganda Limited to supply and install a financial inclusion system that comprises of three sub modules:
These facilitate the issuance of subsidized inputs to farmers in 22 districts.
The Financial Inclusion system, powered by M-Cash, has 192,000 farmers enrolled with the capacity to expand to 450,000 farmers. The system is aimed at creating a direct linkage between farmers and trusted agro-input dealers since the enrolled farmers will be able to easily make orders of farm inputs and subsequently redeem their orders on delivery. This will be done using Web, and USSD for those without smart phones, and Mobile app for those with smart phones, and the use of POS machines through Mcash agents.
The enrolled farmer will be saved the burden and cost of travelling long distances to and from the agro-input dealers' stores since inputs will be delivered to an agreed point nearest to the farmer.
The Bulk Payment project is part of the Digital Payments services Mcash offers individuals, companies and goverments. We offer our users and customers the capability to make merchant payments on enabled devices for seamless, real time, secure transactions at low cost.
Mcash offers our clients versatile end-to-end business solutions that simplify money transfers or payments between any one holding an Mcash account
Mcash has successfully and securely operated the monthly payments and salaries of a number of companies and government entities. The Mcash platform is a payment gateway to Mobile Money payments, Web payments, POS payments, including VISA and Master Card.
Started in 2011, the Mcash Virtual Wallet was created to address the issues that were inherent within the financial sector in Sub-Saharan Africa where distance to financial institutions was one of the reasons more than 35% of the population didn't have bank accounts.
The Mcash wallet seeks to bridge the unbanked to banks giving users the opportunity to access formal financial services that were previously inaccessible to some.
Keeping with the vision of accessibility for all, our wallet is Mobile Network Independent, meaning the Mcash client can be on any mobile network and still have an account.
Your Mcash account does not require a mobile phone and is accessible through a variety of methods including fingerprint biometrics, phone number, Debit Card, Web access, and through the Mcash Android application.
The Mcash Digital wallet applies a 2-factor authentication system for secure access to your account.
Our Virtual Wallet is adaptable in closed communities like refugee camps, agriculture value chains, schools. Access to wallet account locally and internationally, with credit scoring capability, financial history tracking and real time transactions
Services provided include cash-in, cash-out, money transfers, utility and school fees payments, savings, and loans. Additional services have been added lately including seamless integration with SACCOs, ATM withdrawals and mobile money transfers to and from telecommunication operators.
The Mcash account has been developed so that all people whatever their geographic location, literacy or income level will be able to conveniently use this account, making it a truly universal product.
- Send and receive money
- Save your money
- Deposit money onto your account at any Mcash agent point
- Buy airtime of any network (Airtel, MTN, UTL)
- Pay your bills; you can pay your UMEME electricity bill, NWSC water bill, and renew your TV subscriptions (DSTV, GOTV, AZAM, STARTIMES, ZUKU)
- Pay your employees instantly
- Deposit money onto your ordinary bank account regardless the bank
- Pay your green fees and bills at the Uganda Golf Club.
- Pay school fees for your child and / or send them upkeep (money) while they are at school.
- Apply for a loan
- Seamless integration with SACCOs,
- ATM withdrawals and Mobile Money transfers to & from telecommunication operators
Follow these 3 simple steps to get your own Mcash Digital Wallet: