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MamboPay, a payment solutions provider received a matching grant, which has enabled it to distribute over 10,000 MamboPay student cards and transferred over Shs1.5 billion. MamboPay enables the transfer of funds from mobile money to a card. This enables parents and guardians to send pocket money to their children in boarding schools instead of driving there. A cardholder is able to make transactions at all point of sale terminals that accept MamboPay cards in this case canteens in partnering schools.

“We have seen our card transactions grow to an average of Shs5 million per month hence registering a double growth to our revenue,” says Charles Muhindo, the Chief Executive Officer of MamboPay.

MamboPay staff during a presentation of an award by MTN Uganda

This growth has been possible because of the matching grant that MamboPay received which enabled the company to incorporate VISA, Mastercard and American Express payment solutions into the Mambopay cards. This means that parents and/or guardians in diaspora can now easily transfer funds to student cards directly from VISA, Mastercard and American Express.

This has also seen MamboPay increase its workforce to enable it meet the demands of its increasing client base.

MamboPay staff during an expo showcasing their products

Other Key Milestones since the receipt of the matching grant

  • Incorporation of international payment solutions into MamboPay’s system
  • Supporting over five NGOs to make conditional or non-conditional payments to their beneficiaries
  • Facilitating the transfer of pocket money from parents to their children in boarding schools via the MamboPay card. Each student in participating schools owns a MamboPay card, which has a unique card number to which a parent can send money straight from Mobile Money. Our proud latest schools are Katikamu SDA, Caltec Academy etc among others
  • MamboPay has signed a number of MOUs with some schools to already support school fees payments, the same way pocket money is sent to cards. This will limit the queues in the banks at the time of paying school fees.

 

 

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