Mastering Online Transactions

By on July 25, 2017

The world, as we know it, is progressing at a pace so fast many people are struggling to catch up. Take my friend Karen for instance. She was recently introduced to the idea of having a card that would help her go about making online purchases but for reasons I can not quite understand, she was against it claiming that she did not yet trust the idea of online transactions. Karen is 34 years old.

On the other hand, there are people who have embraced the progress so much that they are willing and ready to give new innovations a chance. My neighbour recently ordered for, and received his PS4 from the United Kingdom. He is also 34 years old.

As a country, Uganda has somewhat come late to the party but is still ready and willing to join the festival of online transactions.

Quite recently, the guys at United Bank for Africa (UBA) launched the Debit Mastercard at a fairly lavish ceremony. Suits were worn, lights shone, cameras flashed and toasts were made – all this as the Debit Mastercard, a definite game changer, was being launched.

Understanding that more and more Ugandans are getting online and desiring to make online purchases, many banks have positioned themselves to solve the problems of their clients. Of course while this is the general consensus, there are banks that make it extremely difficult for one to get this magical card for online transactions. Some banks will have you travel to the ends of the earth, confess all your sins, walk a mile on brimstone and sell a body part before they can give you a card that will help you carry out online transactions and purchases.

And this is probably where banks like UBA seem to have taken the advantage. From what I gather, when you walk into any UBA branch and apply for a Debit Mastercard, you will walk out with it – everything is instant. Now this is what should be happening not just at UBA but at whichever bank claims they issue these cards. As someone who is living a good chunk of my life online, I would like to see processes made easier. I don’t want to have to move around with cash (mostly because I am really just a broke person with very little cash anyway). I want to know that I can pay for goods and services with ease just by swiping my card in fancy style. The trouble probably comes with the fact that people who make payments with cards are charged through the nose – at least that is what happened to a friend of mine who ended up paying through the nose when she decided to use her card to clear her Hotel bills. Once again, the guys at UBA have noticed that this might create a bit of an uproar so they have decided to eliminate any charges on any such transactions. As long as I am swiping at my local supermarket, at the bar, at the hospital or paying for fuel, there will be no charge on the transaction. Now that’s something.

Launch of UBASome good looking people at the launch of the UBA Debit Mastercard

Quite often when someone talks about online purchases, the go-to response is ‘They are insecure’. However, after doing a research, it emerges that having this Debit mastercard thing actually offers more benefit than earlier thought. There is a chip embedded into the card that has encrypted information and makes it impossible for one to duplicate or copy the card. As is the case with other financial cards, one will be able to create a PIN which would essentially mean that they have the lock to their account.

UBA’s roll out of the Debit Mastercard on July 18th is in line with Bank of Uganda’s Strategic Plan of financial inclusion with focus on innovation, reducing gaps in financial education as well as protection of the consumers. And therefore people like my friend Karen can look at the launch of the Debit Mastercard as a step in the right direction regarding unanswered questions about the innovation.

According to UBA, the Debit Mastercard gives someone the chance to operate and run their savings or current account with real time reflections. Of course one can not ignore the benefit of having more than a million ATM locations across the world from where transactions can be made along with 31 million merchant locations worldwide.

Now I can be sure that as soon as the new NBA Season begins, I can be able to purchase Boston Celtics merchandise straight from Boston just as I will be able to purchase a brand new Lukaku Jersey straight from Old Trafford without breaking the bank or breaking a sweat.

“Just move to the Internet, its great here. We get to live inside where the weather is always awesome.” – John Green

a.k.a Beewol
The Talkative Rocker
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Beewol - The Talkative Rocker