Kampala, Uganda: Zipp, the international interchange which supports a prepaid credit card  designed to provide financial inclusion for people who are excluded currently from the banking system plans to build 500 money centres in Uganda in three years.

The plans also involved establishing 18,000 retail PoS machines merchants in the East  African country. In 2007, Uganda hosted the Commonwealth Heads of Government Meeting (CHOGOM) and the country adopted Zipp Card Payment system as one of the projects showcased at the meeting.

Zipp is designed as a low-cost global interchange for the development of a new paradigm in banking, harnessing the energy, ideas and talents of the financial and technology sectors to deliver better value and achieve real change to transform the lives of even the most disadvantaged people.

Zipp objective is to be a primary contributor to the reduction of poverty internationally, by reducing micro-banking costs and eliminating the risks of low value international remittances. The remittance system and the infrastructure developments taking place alongside it will have a fundamental and positive influence, by bringing millions of new customers into the banking community.

The ZippCard Programme is designed to bring potentially billions of people who are currently excluded from the banking system by status, location or cost into the formal banking world by facilitating access to banks for those who are currently unbanked. Zipp is the interchange facilitates international transactions with a local transactions and Zipp card is the medium through which this transactions are made.