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November 24, 2005

Stanbic launches electronic cash collection service

Pan-African banking group Stanbic Bank has launched a new cash collection service named CollectPlus.

By CBR Staff Writer

CollectPlus is a new electronic cash collection service that promises to increase the speed and efficiency of cash, cheques and electronic facilities across Uganda.

The chairman of the bank’s board of directors, Matin Aliker, explained that the new product will prove particularly advantageous for businesses across Uganda, given that the majority of sales transactions are conducted using cash or cheque payments.

The product is fully supported by CATS Africa, Africa’s electronic banking system, which currently offers customers a real-time view of their accounts from their desktops.

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