Absa Bank Uganda, in partnership with Visa, has launched three new premium card solutions, Infinite, Signature, and Business Credit Cards designed to cater to the unique needs of affluent and business customers.
The Infinite Card, a globally recognized ultra-premium debit or credit card, is the first smart, elegant metallic card on the market. It is tailored for high-net-worth individuals seeking exclusive financial and lifestyle benefits. The Signature Card is designed for top-tier customers who value sophistication and premium banking services. Meanwhile, the Business Credit Card which is a first to market, is specifically designed to help businesses track and manage expenses efficiently through advanced reporting and spend management solutions.
Speaking at the launch, David Wandera, Interim Managing Director of Absa Bank Uganda, reaffirmed the bank’s commitment to delivering innovative financial solutions that enhance both banking convenience and lifestyle experiences.
“These new card offerings are designed to address the evolving needs of our high-value customers who travel frequently, conduct business globally, and demand seamless financial solutions. Partnering with Visa allows us to expand our personal card range with premium products that attract and retain high-net-worth clients while driving growth across all segments,” Wandera stated.
Chad Pollock, Vice President and General Manager of Visa East Africa added, “Our partnership with Absa Uganda has always been built on a foundation of trust, innovation, and a shared vision of financial inclusion. Over the years, we have worked together to introduce products and services that meet the evolving needs of Absa Uganda’s customers. The launch of these new Visa cards is a testament to our continued collaboration and our dedication to offering unparalleled value and convenience to customers”
The launch of these new cards comes at a time when digital payment adoption in Uganda is on the rise. According to the Uganda Bankers Association 2023 Banking Sector Report, digital transactions including point-of-sale payments, debit card transactions, mobile banking, and internet banking have significantly increased.
The report highlighted a rise in the total debit card transaction value, from Shs 532.9 billion in Q3 2023 to Shs 581.1 billion in Q4 2023, indicating growing consumer confidence in digital payments.
As of December 2024, Absa Bank Uganda holds 18.5% payment volume (PV) growth against market with PV growth at 11% and active card growth of 15% against total market growth rate of 2% which positions Absa bank Uganda the issuing market leader in Uganda.
Albert Byaruhanga, Acting Retail and Business Banking Director at Absa Bank Uganda, emphasized the bank’s continued investment in security measures to protect customer funds.
“Our commitment to cybersecurity remains a top priority. We have implemented robust security protocols and continue to enhance fraud prevention measures to safeguard our customers’ transactions and personal data,” Byaruhanga said.
