Exim Bank Uganda has launched Exim Global Pay, a cross-border payment service designed to help individuals and businesses transfer money internationally for trade, education, healthcare and other financial obligations. The service, powered by TerraPay, a global payments infrastructure provider, allows customers to access international payment networks while maintaining their existing banking relationship with Exim Bank.
The launch responds to growing demand from Ugandan businesses that work with overseas suppliers and service providers, as well as individuals who need to pay for education, medical treatment, travel and family support outside the country. Edward Kanyike, managing director of Exim Bank Uganda, said at the launch on Wednesday that the service was designed to simplify international transactions. "The world has become remarkably connected. A business in Kampala can transact with a supplier thousands of kilometres away, a parent can pay for a child's education overseas, and an individual can have financial commitments in more than one country. What should not remain complicated is the payment that makes these transactions possible," he said.
For businesses, the service is expected to facilitate payments to overseas suppliers, commercial partners and service providers, potentially easing transactions for companies that depend on imported goods and services. Individuals will be able to use it for education expenses, healthcare, travel and family-related financial commitments. Willie Kanyeki, TerraPay's vice president for Sub-Saharan Africa, said the partnership brought together strong local banking capabilities with global payments infrastructure. "Cross-border payments should enable economic participation, not create friction around it," he said.
TerraPay operates a payments network connecting financial institutions to bank accounts, mobile wallets and cards in multiple countries. Its infrastructure enables banks to access international payment channels through a single connection rather than establishing separate arrangements with multiple partners. Exim Bank Uganda operates seven branches in Uganda, 12 cash deposit machines and a network of more than 9,500 agents through a shared platform.
The bank's announcement did not specify transaction fees, applicable exchange rates, transfer limits or the full list of supported destinations. These details are expected to be important for customers assessing the cost and suitability of the service for their individual or business needs.