The debut of “Wendi,” a cutting-edge mobile wallet technology created to assist the government in the smooth distribution of PDM (Parish Development Model) money, has been announced today by PostBank in collaboration with MTN Uganda.
Wendi is a PostBank-powered electronic payments platform that strategically focuses on group savings and funds management as well as digital money transfers, saves, deposits, and withdrawals in order to promote financial inclusion among unbanked communities in Uganda.
Only 10% of Ugandans have bank accounts, whereas 53% of the population uses mobile money services. Investment in a mobile wallet solution enables PostBank, a bank with financial inclusion at the centre of its operational goals, to close the gap between Ugandans who have access to banking and those who do not. And since about 74% of Ugandans reside in rural regions, Wendi provides them with access to the financial resources they need to contribute to the country’s development objectives.
Wendi supports a variety of mobile transactions, including payment for goods and services, B2W and W2B, and utility bills including Umeme, URA, and NWSC. It is available for download from the Google Play Store and onboarding by a *229# USSD code. Additionally, customers will benefit from extraordinary accessibility thanks to the more than 3000 Wendi agents who will be stationed across the nation within the upcoming 12 months.
In order to promote the effort, PostBank and MTN Uganda have given 170 representatives of SACCOs in Bukedea smartphones. SACCO representatives will be able to arrange quick and easy transfers of PDM monies to recipients’ mobile money accounts thanks to the 5G network-capable handsets. Additionally, we want to give all SACCOs with PostBank accounts devices.
“The launch of Wendi is indeed a timely intervention for our people. We expect people to save on transport money and time when receiving their PDM funds and ultimately, the ease of access to these funds should trigger faster economic development within our parishes,” said the deputy chief administrative officer Bukedea District Representative, Norah Anyakoit..
PostBank’s managing director, Julius Kakeeto, expressed his pleasure for the partnership with MTN Uganda as evidence of the Bank’s continuous progress towards digital transformation. “This collaboration represents our unwavering commitment to transforming the lives of individuals through innovative financial solutions. Wendi is not just a platform; it’s a beacon of hope and a bank for SACCOs set to empower communities, reduce financial burdens, and foster inclusive growth,”
“With Wendi, convenience meets affordability, security, and financial inclusion to make a meaningful difference in people’s lives,” Julius continued.
MTN CEO Sylvia Mulinge reaffirmed MTN’s dedication to the development of its clients and to advancing the economy of Uganda in her remarks at the inauguration.
“At MTN, we have been champions of financial inclusion through our mobile money services, and we understand that in Uganda’s development story, no one should be left behind. Our partnership with PostBank on the Wendi mobile wallet is yet another financial inclusion milestone for Ugandans to celebrate,” she said..
Customers were also assured by PostBank’s Executive Director and Chief Digital Financial Services Officer, Andrew Kabeera, that Wendi is the future of banking, particularly online. For its customers, PostBank is dedicated to upholding the highest standards of security and data privacy. To ensure secure transactions and the protection of clients’ information, Wendi is built on strong security measures, such as encryption and multi-factor authentication, said Kabeera.