PostBank, in partnership with MTN Uganda, has launched “Wendi,” a groundbreaking mobile wallet platform aimed at supporting the government in the seamless disbursement of PDM (Parish Development Model) funds.
The platform is an electronic payments solution strategically designed to drive financial inclusion within unbanked Ugandan communities by offering a range of digital financial services.
Let’s look into the features of Wendi, explain how users can get started, and highlight additional details to take note of.
What is Wendi?
Wendi is an innovative mobile wallet platform developed by PostBank to bridge the gap between the banked and unbanked population in Uganda.
By leveraging group savings, funds management, digital money savings, transfers, deposits, and withdrawals, Wendi aims to provide seamless financial services to underserved communities.
With only 10% of the Ugandan population being banked while 53% utilize mobile money services, Wendi becomes a crucial tool for financial inclusion. It empowers individuals in rural areas, where 74% of Ugandans reside, to access the financial resources needed to participate in the government’s development goals.
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How to Get Started with Wendi
Wendi is easily accessible through two primary channels: the Google Play Store for smartphone users and a *229# USSD code for those without smartphones.
Once downloaded or accessed, users can enjoy a wide range of mobile transactions, including utility bill payments (e.g., Umeme, URA, NWSC), TV subscriptions, school fees, and more.
Wendi also facilitates payments for goods and services, enabling seamless business-to-consumer (B2C) and consumer-to-business (C2B) transactions. To ensure widespread accessibility, over 3000 Wendi agents will be stationed countrywide within the next year, offering extraordinary convenience to users.
What Else You Need to Know
To support the launch of Wendi and facilitate the smooth transfer of PDM funds to beneficiaries’ mobile money accounts, PostBank and MTN Uganda have distributed 170 smartphone devices to SACCO representatives in Bukedea.
These 5G network-enabled smartphones empower SACCO representatives to efficiently facilitate convenient and timely transactions. PostBank intends to equip all SACCOs with accounts in the bank and the necessary gadgets to strengthen the initiative further.
This collaborative effort is expected to save transport costs and time, ultimately fostering faster economic development within the parishes.
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What They Said
During the launch event, representatives from PostBank, MTN Uganda, and local government officials expressed their excitement and shared their perspectives:
Ms Norah Anyakoit, the Bukedea District Deputy CAO said, “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.”
Julius Kakeeto, Managing Director of PostBank, emphasized the significance of the collaboration, stating, “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.”
Sylvia Mulinge, CEO of MTN, reiterated their commitment to financial inclusion, stating, “Our partnership with PostBank on the Wendi mobile wallet is yet another financial inclusion milestone for Ugandans to celebrate. In Uganda’s development story, no one should be left behind.”
Andrew Kabeera, PostBank’s Executive Director and Chief Digital Financial Services Officer, assured customers about Wendi’s security, saying, “PostBank is committed to maintaining the highest standards of security and data privacy for its customers. Wendi is built on robust security systems, including encryption and multi-factor authentication, to ensure secure transactions and safeguarding of customers’ information.”
