Business 19 October 2026 Daily Monitor (Uganda)
Bank of India Uganda Launches First Debit Cards in Digital Push
Bank of India Uganda has partnered with Interswitch to issue its first-ever Verve debit cards, marking a significant step towards digitizing its services and offering customers greater convenience through expanded ATM and merchant access. Source: https://www.monitor.co.ug/uganda/news/national/bank-of-india-uganda-issues-first-ever-debit-cards-in-digital-shift-5638340
Bank of India Uganda is making a significant leap into the digital age by issuing its first debit cards to customers, a move facilitated by a partnership with payments technology firm Interswitch. This initiative allows the bank’s clientele, who previously relied solely on in-branch transactions, to access cash withdrawals at over 800 Interswitch-enabled ATMs and make payments at more than 20,000 merchant locations across Uganda.
This development is a foundational step for Bank of India Uganda, which began operations in 2012. The bank aims to transition its customer base, largely built on traditional personal banking and corporate services, towards more modern, card-based payment methods.
“Partnering with Interswitch to issue Verve debit cards to our customers is a natural step in our journey towards a more digital, customer-centred bank,” stated Srikant Ashok Wikhe, Managing Director of Bank of India Uganda. He emphasized that the goal is to ensure customers have access to financial services that are efficient, reliable, and available throughout the country.
Moris Seguya, Country General Manager at Interswitch Uganda, highlighted that the collaboration not only brings card payments to Bank of India customers for the first time but also broadens the reach of the Verve card network in Uganda. “Our focus is on making card payments accessible, reliable, and easy to use,” Seguya commented, noting that each new issuer strengthens the overall Verve network.
The launch occurs in a market where mobile money is dominant, but digital payment adoption beyond this channel is still developing. While debit card transactions are growing, they lag significantly behind mobile money volumes. This move by Bank of India Uganda is seen as a crucial test for the broader adoption of card-based transactions in the country’s push towards a cashless economy.