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 like MTN and Airtel mobile wallets. 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 start from $1 and up to $700, 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.