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KCB Bank Uganda has added a school fees payment platform, Pegpay, to its alternative fees payment options. This will help its customers pay school fees in real time.
The innovative payment system will allow the schools to register to the network thus enabling parents and guardians easily make school fees payments. This will be done from any KCB Bank branch or agent with no paperwork required.
The head of Retail Banking at KCB Uganda, Mr. Ssekyondwa Micheal, said customers are always looking for convenient options of transacting.
“Thus through our Pegpay platform, we will extend an appropriate school fees payment option where our customers can walk to any KCB Uganda branch or KCB agent point and make payments as long as the school is registered on the Pegpay platform,” he said.
The bank and their partner Pegasus Technologies Limited, will also be responsible for setting up the school on Pegpay. The school will then present cards to the students/parents.
School fees payment will be possible with a school code and student number. The service will reportedly be available af a flat service fee of UGX2,300 and will be completely paperless.
As soon as the transaction is complete, both the parent and the school receive a receipt.
Digital transactions have greatly increased with customers using mobile phones for their bank to wallet transactions according to Mr. Ssekyondwa.
Bank of Uganda statistics show that mobile money transactions grew to 3.5 billion in 2020 compared to 2019’s 2.8 billion.
“Integration and online or digital alternative banking channels as a bank has been aimed at serving our diverse customers across the country and the region with appropriate banking services which they can access anywhere at any time in a convenient and timely manner,” Mr. Ssekyondwa concluded.
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