Credit, debit card transactions grow
Friday June 04 2021
Plastic money card transactions increased by 11.8 per cent during the period ended December 2020, according to Bank of Uganda annual report.
Summary
The value of foreign currency cheques cleared through the Automatic Clearing House declined significantly by 24.1 per cent from $221m to $167.7m.
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Purchases, withdrawals and transfers conducted through debit and credit cards increased in 2020, signaling a shift towards electronic transactions, according to Bank of Uganda.
In its annual report, for the period ended December 2020, the Central Bank indicated that the campaign by banks and government to promote use of electronic payments to control the spread of Covid -19 had pushed up both volume and value debit and credit cards transactions.