Sunday, July 13, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
ADVERTISEMENT

PayClide’s financial services make migrant life more decent

by Juliette Namakula | Assistant Editor
03/06/2023
in News, TECH
Reading Time: 3 mins read
A A
0
Share on FacebookShare on Twitter
Bob Moses Oyuru, the founder and CEO of Cytrone Limited,
Bob Moses Oyuru, the founder and CEO of Cytrone Limited

The life of a migrant is very complicated. Most migrants rely on the mercy of others for survival. When it comes to financial services, migrants are some of the most underserved communities because of their lack of documentation.

With this in mind, a Ugandan financial services company called Cytrone Limited came up with a digital service targeting such communities.

Related posts

Hon. Haruna Kasolo (seated middle) with other individuals who accompanied him at NRM offices in Kyadondo on Thursday.

Minister Kasolo nominated for NRM Vice Chairperson, Buganda Region

03/07/2025
218
The accused persons in court today.

Vandalism of Electricity Equipments: 17 charged with terrorism

02/07/2025
208

Looming unemployment: Farmers, Residents in shock as NEMA boss orders the demolition of multi million chicken farm

30/06/2025
343
Suspects in court on Monday.

Mpigi District boss, District Service Commission Members Charged over illegalities in Job offers

30/06/2025
169

According to Bob Moses Oyuru, the founder and CEO of Cytrone Limited, they introduced a mobile application called PayClide, to help such people who leave their home countries to host countries like Uganda and can’t access things like banks and investments.

“PayClide comes in to cover this gap to enable these people with financial interests in both their homes and host countries to access financial services and have security and prosperity,” he says.

“These people have families back home to whom they need to send money. They have their personal goals. They need financial services,” he adds.

With a free PayClide account, users can easily accept payments, enjoy free money transfers, set savings, invest, and make smart spending budgets and access flexible credit instantly.

Oyuru notes that since their formation, transaction numbers have steadily risen but are only hampered by users having small deposits.

“Our target audience is the migrants but anyone that has intentions of saving small amounts or micro amounts of money, they too can use the product. Our App allows people to save as low as Shs 500 into a unit trust and see it grow,” he says.

Even non-migrants have indeed used this platform for other services such as bill payment and saving. Doreen Ibano can testify to this.

“I joined PayClide around 2020. I tried the App and paid for my Yaka [electricity] bill and it has been transitioning as it grows. They have introduced products like saving. I have personal goals like wanting to buy another laptop for my office. So, I want to also improve my saving habits and this platform comes in handy,” Ibano says.

Oyuru is happy that there is steady progress in a short time.

“Our members have steadily grown over the years. By 2021, we had 1,023 users. As we speak, we are working with 3,042 users and we expect these numbers to grow once we do more marketing,” he says.

He identifies their major challenge as being high compliance costs that hamper progress.

“Partnerships are quite another challenge whereby the big players are reluctant to partner with you as they consider you a micro player,” he says.

Nonetheless, Bob appreciates the opportunity to be part of Season Four of the 40 Days 40 Fintechs initiative; organised by HiPipo to highlight unique innovations changing the lives of under-served communities in the East African region.

“As startups, we face a lot of challenges. The 40 Days and 40 FinTechs initiative opens wider doors for smaller FinTechs like us to get free visibility that we didn’t have previously. The promotion, marketing, and visibility, are quite large and clearly benefit small players,” he says.

PayClide is the 27th participant in this year’s 40 Days 40 FinTechs initiative which has a main focus on assessing the impact of innovations on end-users.
According to HiPipo CEO Innocent Kawooya, PayClide’s unique niche of targeting migrants deserves much appreciation.

“This is exactly what we mean when we say we must have a financial services sector that includes and benefits everyone. PayClide has identified an under-served society and is doing a great job to bring them to the digital financial services sector,” he said.

The 40 Days 40 FinTechs initiative is run by HiPipo in partnership with the Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner, and Crosslake Technologies with support from the Bill and Melinda Gates Foundation. Life-changing stories from more than 100 FinTechs have been highlighted by this initiative in the past three years.

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: 40 Days 40 FinTechs40 Days 40 FinTechs initiativeBob Moses OyuruEasy Ticket’s digital ticketing services are making life easy for event organisersFeaturedPayClidethe founder and CEO of Cytrone Limited

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
308

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
625
Minister of Health Dr. Ruth Aceng and Permanent Secretary Dr. Diana Atwiine pay their respects at the burial of Dr. Joshua Musinguzi, a champion in the fight against HIV/AIDS in Uganda. Their presence honors his legacy and dedication to improving healthcare in Uganda.

 FULL LIST: Health Service Commission Shortlists Applicants for Key Roles

18/06/2025
1.4k
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
504
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4378 shares
    Share 1751 Tweet 1095
  • How to Renew Your National ID Online: NIRA Pre-Registration Portal 2025 Guide

    4066 shares
    Share 1626 Tweet 1017
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2667 shares
    Share 1067 Tweet 667
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3323 shares
    Share 1348 Tweet 823
  • How to Check PLE Results 2024 on Phone, Online

    1785 shares
    Share 714 Tweet 446
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1651 shares
    Share 660 Tweet 413
  • MPs clear govt to cancel 2020 academic year

    2796 shares
    Share 1150 Tweet 686

Recent Articles

Traders decry lack of education on tax matters, call for greater sensitization

12/07/2025

Graduates Urged to Innovate as Over 1,000 Complete Training at Nakawa Vocational Training College

12/07/2025
The IGG Beti Kamya urged Ugandans to help expose suspicious wealth, such as high-rise apartments owned by public officials.

How the Office of the IGG is Turning the Tide in Uganda’s Fight Against Corruption

11/07/2025

betPawa Makes History with Africa’s Biggest Aviator Win — UGX 3,582,370,00 in One Round

11/07/2025
Herbert Achai

Transfers: Herbert Achayi Returns to KCCA FC

11/07/2025
The accused persons at Court on Friday.

Gomba District Commission Members, charged with extortion and Soliciting Bribes for Jobs

11/07/2025
Brian Mulondo (C) moderates the MTN MoMo Power to be More campaign Launch with MTN's Richard Yego (L) and Jemima Kariuki (R)

MTN MoMo Broadens Digital Offerings to Empower Individuals, Businesses

11/07/2025

Recent CommentsRecent Comments

  • The Journey of Ibrahim Traoré on How President Ibrahim Traoré’s ambitious vision is driving Burkina Faso’s economic growth push
  • Ugandan Scientists Finalists For European Inventors Prize — Press Uganda on Ugandan scientists finalists for European inventors prize
  • Government Pumps UGX1 Trillion Into UDB To Drive Industrialization, SME Growth — Press Uganda on Government pumps UGX1 Trillion into UDB to drive Industrialization, SME growth
  • PS Ggoobi Tips On Building USD 500b Economy — Press Uganda on PS Ggoobi tips on building USD 500b economy
  • Museveni Meets German Envoy Matthias Schauer After Subversion Claims — Press Uganda on Museveni meets German envoy Matthias Schauer after subversion claims

UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • Traders decry lack of education on tax matters, call for greater sensitization
  • Graduates Urged to Innovate as Over 1,000 Complete Training at Nakawa Vocational Training College
  • How the Office of the IGG is Turning the Tide in Uganda’s Fight Against Corruption
  • betPawa Makes History with Africa’s Biggest Aviator Win — UGX 3,582,370,00 in One Round
  • Transfers: Herbert Achayi Returns to KCCA FC
  • Gomba District Commission Members, charged with extortion and Soliciting Bribes for Jobs

OpED

Equipping Youth with Skills for a Sustainable Future: A Mission We Must All Embrace

Fueling the Future: How Pesapal’s Forecourt Management Solution is Transforming Uganda’s Petroleum Sector

HELLEN MASIKA: From Darkness to Solar Light in Kijumba 

Why de-register a Motor Vehicle in Uganda: and Consequences of Non-Compliance

Challenges of taxing law firms in Uganda

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d