Ugandan team develops Cash Chat mobile app

TECHNOLOGY

A team of Ugandans have developed an application software that enables users to combine the use of social media and mobile money applications.

The Cash Chat mobile app, the first if its kind in Uganda, is powered by PesaMoni, a global payment gateway.

The software is integrated with a digital wallet that gives users access to their savings and key financial transactions like buying airtime, paying for utility bills, and sending or receiving money.

Asher Namanya Asanasio, the Chief Executive Officer of Bold Cashers, the company that developed the application, explained that they want users to do more than chatting on social media.

Namanya said the app facilitates the process for Africa to become cashless in a safe and secure way. He made the remarks at a press conference to discuss the app in Kampala.

He noted that when Ugandans travel abroad they find it hard to carry, send and receive money.

"We are looking at having a unified one stopover product where you can be able to chat, transfer money and many other services. Our vision is to connect the world through financial technology and social media," he said.

"We want to make communication and money transfers easy and affordable as compared to prevailing financial solutions.

The Cash Chat mobile app gives you that advantage to access all services in one stopover without moving away from where you are as social media users and consumers," he added.

Annet Nambooze who leads the Women4Her organisation, which focuses on improving the lives of less privileged girls and women, said that e-commerce is the trend. The application like others developed by Ugandans is available for download on Google's Play Store.

"The future of employment and doing business is digital and as young people, we must understand this well and appreciate it. Financial technologies are here and we must embrace it. We can now chat and do business on the same platform," she said.

"This is a Ugandan start-up offering solutions to Ugandan financial challenges. We are transitioning to a cashless economy," she added. She said that using this application, one can transfer money without incurring high charges. She noted that when Ugandans fly abroad to buy stock they face risks carrying cash.

"If you can use this application to send money to a Chinese bank account, or an account in Dubai or India it is better. You can also advertise your product on the application. Women with social media accounts can use it positively," Nambooze said.