KAMPALA, UGANDA - January 10, 2024 - Rexial has announced that Stanbic Bank Uganda, the country's largest financial institution, has joined the Rexial network. This partnership enables Stanbic customers and merchants to automate direct debit setup and management for recurring payments.
What This Means for Stanbic Customers
Stanbic Bank customers can now authorize and manage direct debits through Rexial's infrastructure—enabling businesses to collect recurring payments directly from bank accounts for loan repayments, insurance premiums, subscription services, and utility bills. Customers gain visibility and control over all their direct debits in one place, while businesses benefit from improved collection rates and reduced manual processing.
"We're thrilled to welcome Stanbic Bank Uganda to the Rexial network," said Aéko Ongodia, CEO of Rexial. "As Uganda's largest bank, Stanbic's participation validates the importance of direct debit infrastructure for the country's financial ecosystem. This partnership immediately opens up automated recurring payment capabilities for millions of Ugandans."
Use Cases and Benefits
The integration supports diverse recurring payment scenarios—from SACCO loan collections and insurance premium payments to subscription services and utility bills. For businesses, this means more predictable cash flow and lower collection costs. For customers, it means fewer missed payments and better control over their recurring financial commitments.
"We're committed to offering innovative banking solutions that meet our customers' evolving needs," said a Stanbic Bank Uganda spokesperson. "Partnering with Rexial enhances our digital banking capabilities, enabling our customers to manage recurring payments more efficiently while giving businesses a reliable collection mechanism."
Building Uganda's Subscription Economy Infrastructure
This partnership addresses a long-standing gap in Uganda's payments ecosystem. While mobile money and digital banking have grown rapidly, infrastructure for automated recurring payments has lagged behind. By connecting Uganda's largest bank to Rexial's network, the partnership creates the foundation for a more mature subscription economy—benefiting businesses from fintech startups to established utilities.
About Rexial
Rexial builds the infrastructure that powers recurring payments across Africa, enabling banks, mobile money operators, and businesses to automate direct debits securely and reliably.
About Stanbic Bank Uganda
Stanbic Bank Uganda is the country's largest financial institution, serving millions of customers with comprehensive banking services. As part of the Standard Bank Group, Africa's largest bank by assets, Stanbic brings scale and stability to Uganda's financial sector.
Media Contact
Rexial
press.uganda@rexial.com
+256 772 842 100
For more information about REXIAL and Stanbic Bank Uganda's partnership, visit www.rexial.com and www.stanbicbank.co.ug.