In a strategic move to enhance digital financial services in Uganda, Diamond Trust Bank (DTB) has partnered with MTN Uganda to support the newly launched MTN MOMO Virtual Card. 

This collaboration is expected to accelerate the adoption of cashless transactions, providing individuals and businesses with a seamless and secure payment solution.

The MTN MOMO Virtual Card offers a game-changing approach to online and digital transactions, enabling users to make payments conveniently without the need for a physical card.

DTB’s endorsement of the MOMO Virtual Card is a significant step toward making banking and financial services more accessible, particularly for underserved populations. By eliminating traditional banking barriers, the virtual card empowers more people to participate in the digital economy.

Additionally, the card leverages advanced cybersecurity measures to ensure secure transactions, giving users confidence in their financial dealings. With the rise of digital fraud, this added layer of protection is crucial in driving trust in cashless payments.

The partnership between DTB and MTN Uganda is set to benefit businesses of all sizes by providing a reliable and cost-effective payment alternative. 

Small and medium enterprises (SMEs), in particular, stand to gain from the convenience and security offered by the virtual card, allowing them to expand their digital transactions both locally and internationally.

DTB’s Chief Executive Officer, Godfrey Sebaana, highlighted the importance of collaboration in driving financial sector innovation.

“While we continue to innovate, we recognize that true impact comes from collaboration. This partnership is a testament to our commitment to making banking more accessible, secure, and exciting,” Sebaana stated.

By facilitating faster and more secure transactions, the MTN MOMO Virtual Card is expected to boost economic activity, attract investment, and position Uganda as a leader in digital financial solutions in the region.

As Uganda continues to embrace digital transformation, solutions like the MOMO Virtual Card play a critical role in reducing reliance on cash transactions. The move aligns with global trends where digital payments are becoming the preferred method for businesses and individuals.

The endorsement by DTB signals strong confidence in the future of digital banking and mobile money solutions, reinforcing the importance of collaboration between financial institutions and telecom providers in advancing financial inclusion and economic progress.