The mobile banking atmosphere in Uganda is in for a boost, due to the oncoming launch of revolutionary L-Pesa services. L-Pesa provides transformational financial service through mobile banking platforms. This service facilitates microloans with close to no risk, easy to follow regulations and minimal issues with bureaucracy. Being available on a mobile platform means that the costs of finance are minimal, which is of better benefit to the person in need.
Through L-Pesa, people from all walks of life in Uganda will be able to gain access to micro-loans. To gain access to this service is simple. One needs to be registered on their mobile network to register for L-Pesa, through a one-step application process. Once registered, the user is able to apply for a loan and gain access to the funds within minutes on their mobile devices.
All borrowers start by getting access to a loan of $5, and if they pay back the loan in good time, and the right amount, they will benefit an increased credit score. The higher the credit score, the more money a person can borrow.
L-Pesa has a range of products that are available, including access to loans for business development and personal loans. The best thing about L-Pesa is that it is available to everyone without discrimination. For those who have always felt unable to access credit in traditional financial institutions, L-Pesa provides a solution that will change their entire approach to finance. L-Pesa is set to transform Ugandan finance.