PayWay is an electronic payment service that accepts payments on behalf of other companies. It employs high-tech innovations to solve varying customer payment needs.
Since its emergence in 2009 on the Ugandan market, it has managed to establish effective partnerships between various service providers, dealers, and end-users. Among these are telecom companies like Airtel, Africell, Uganda Telecom, Lycamobile, and other companies like UMEME, NWSC, DSTV, AZAM, among others.
PayWay is regulated by the National Information Technology Authority – NITA and a market enabler of cashless payments in Uganda and across Africa. It has over 70 self-service kiosks, and over 2500 retailer shops countrywide. You must have seen these Point of Sale (POS) terminals at one of those shopping malls or neighboring supermarkets.
With this payment system, you can top up your airtime, pay for TV subscription, buy Yaka, contribute money to your NSSF fund; it is an endless journey of convenient instant payment & cash collection.
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How to access PayWay services Uganda
Here is how you can access PayWay services;
- Visit the nearest self-service PayWay kiosk/machine.
- Go to your nearest PayWay retailer, and ask the agent to help you complete your payment.
- You can go to the PayWay Web Kiosk online, sign up, and use Pay Way services.
- Download the PayWay Wallet on Google play store and use pay way services.
Note: Self-service PayWay kiosks do not make refunds, give balances/change, and accept coins. Please cash-in the exact amount required for payment.
How does PayWay Work
The PayWay wallet is a mobile application that was introduced on 24th July 2018 to allow us to recharge mobile airtime, data, and also make bill Payments easily. The application can be downloaded from the Google App Store. iPhone users, please hang in there.
After download; Sign up for an account, recharge from your mobile money, and make payments using the App. The wallet service accepts the sending and receiving of money between registered users.
To recharge your App account, you can use your money card or mobile money of any of these three network providers (Airtel, MTN, and UTL).
So, if you are an active user of any of the three network providers, it should be easy for you to add credit to your PayWay wallet and make payments easily.
Services you can pay for with your PayWay Wallet
In brief, you can use PayWay for the following services:
- Sending money between PayWay accounts
- Recharge PayWay wallet from your mobile money account
- Recharge PayWay wallet from your Bank account
- Buy airtime
- Pay school fees
- Pay for electricity (YAKA)
Become a PayWay Agent Uganda
If you are looking beyond being served as a customer to becoming an agent, PayWay has a plan for you. The company has requirements for those who want to become agents. To become an agent, you will have to meet these necessary credentials;
Requirements to be a PayWay Agent Uganda
For a Limited Liability Company
- 2 Passport size Photos
- Copies of valid National ID/Passport and Trading License.
- Recommendation Letter from LC1 Chairperson
- Certificate of Incorporation and Form 7
- Cost of the agent POS terminal, Paper Rolls and Float as directed by the sales professional
- Photograph of where the business will be located
General Requirements for Individuals
- 2 Passport size photos
- Copy of National ID/ Passport
- Recommendation Letter from LC1 Chairperson
- Photograph of where the business will be located
- Cost of the agent POS terminal, Paper rolls, and Float as directed by sales professional
According to the research I conducted, the initial float is estimated to be around UGX 2,000,000 to UGX 3,000,000.
Payway Uganda commission structure
Getting access to the commission structure is a tough call as one would need to sign their agent papers first, to access it. After several searches on the internet streets, I agreed to accept their decision not to share it with me.
Though, I will give you reasons to as to why I think PayWay is 7/10 worth trying out if you are making payments.
- Easy to access and manage float.
- The wide network of service providers.
- Requires relatively cheap hardware.
- Easy to operate.
- Robust reporting capabilities.
- Guaranteed connectivity.
- Easy to access and manage float.
- No need to deal with several suppliers.
- Controlled user access.
- Receipt printing capacity.
Conclusion
Digital, and an all in one e-payment system. Although achieving a totally cashless economy might take time, we are sure about the path.
PayWay continues to make the dreams of small-scale businesses valid and very many other financial systems have sprung up in the process. What am not sure about is the competition in the field! You know the real action is beyond the human eye. Be our reporter today, what other payment systems are you using or have you had about!
Besides, do you have any further info about the PayWay system! Share with us through your experience(s).