Equity Bank Rwanda’s Inter-Country Payment Suite continues to transform cross-border trade and financial transactions across East Africa. Leveraging its interconnected core banking platform, the service provides customers with a seamless, real-time solution for moving money across the bank’s subsidiaries in Kenya, Rwanda, Uganda, Tanzania, and South Sudan. ALSO READ: How Equity Bank is unlocking Rwanda’s agri-export potential The inter-country suite of services aims to provide a “One Equity Access” experience for all customers, with plans to eventually extend the service to non-customers. Businesses benefit from the flexibility to support regional trade activities, eliminating barriers associated with cross-border financial transactions. Robert Kanani, a long-time client of Equity Bank, is among the many who have benefited from this service. “You can walk into the bank, send money quickly and easily, and by the time you leave, the recipient has already received the funds. It’s that efficient,” Kanani said. Having used the service for over four years, he highlighted its impact on his business operations. “I can now buy goods from other countries without physically travelling there. The time I used to spend on those trips is now better utilised for other business activities. It’s incredibly convenient and beneficial for my business,” he added. ALSO READ: Equity Bank Rwanda celebrates Customer Service Week For Pauline Kayitesi, another Equity Bank client, the platform has streamlined her logistics operations. “I don’t have to travel to Tanzania or Kenya to buy fuel for vehicles. When the vehicles need fuel along the way, I can make payments remotely, and they can continue their journey without delays,” she explained. Kayitesi also emphasised the security benefits of the service. “It significantly reduces the risk of robbery because I don’t have to entrust cash to the drivers. I can handle payments myself, which minimises losses in my business,” she said. Divin Bruno Rugamba, another user of the service said, “I see only good things with this service. The charges are much lower compared to before, which makes it easier to buy things without having to travel, and the money reaches the seller faster.” Rugamba also emphasised the security and reliability of the service: “It’s safe and trustworthy and the speed and security of the service save a lot of time.” Enhancing regional trade The Inter-Country Payment Suite has been a game-changer for businesses engaged in regional trade, particularly those in the agriculture, import/export, and tourism sectors. With agriculture being one of the largest export industries along East Africa’s borders, the service has enabled smoother transactions and fostered bilateral trade among member countries of the East African Community. ALSO READ: EKash revolutionises digital payments with instant transfers, seamless accessibility Additionally, the platform supports remittances, offering a digital and secure way for individuals to transfer funds across borders. Key features of the payment suite The Inter-Country Payment Suite offers a range of features designed to enhance cross-border transactions and financial convenience. Through over-the-counter services, customers can deposit funds into any Equity account across subsidiaries, withdraw funds without needing to open accounts in other countries, transfer funds seamlessly between Equity accounts across borders, and make ATM withdrawals in both USD and local currencies. Additionally, the suite includes digital services accessible via the Equity Mobile App and Equity Online, enabling real-time transactions in supported currencies such as KES, TZS, UGX, RWF, and USD. These digital platforms ensure secure, 24/7 access with instant processing, making cross-border payments efficient and user-friendly.
