Mihasoft, a Technology company in Uganda based in Ntinda has made financial Technology Application called MihaPay that is tipped to change the financial flow in the country and on the international scene.
MihaPay enables users to send, receive, pay bills and make transactions without using automated machines, banks, and phones but rather using finger prints.
The head at Mihasoft, Fenando Aruho explained how the application works.
“We want to enhance Fintechs that enable use of money without physically touching it so we came up with an idea to create an application whereby one’s thumb is his or her bank account. As long as one has an account with MihaPay, he can be able to withdraw money with his thumbprint, buy food from a supermarket or shop, pay bills and make transactions without having money physically. This is aimed at reaching the non banking sector…,” He said.
Asked how MihaPay is unique from other existing applications, the project lead at Mihasoft, Samuel Ernest, who is the project manager of MihaPay explained that it’s unique from other Fintechs in several ways. He explained that the application will saves time because the receipts and Financial statements are saved automatically.
“It’s very unique in many ways. Firstly, it’s going to erase physical money because we shall be using only fingerprints. And for those universities and institutions facing the problem of delay in clearances because an accountant is entering the receipt details in the database, this will be synced with their systems, so that when someone pays, he or she is cleared automatically…,” Ernest says.
Samuel dismissed claims by the public that some Ugandans could hack into the application and steal money from Users. He claimed that it is not easy to hack into systems that use fingerprints. of fraud in Uganda are at a high.
Aruho urges companies, Financial institutions, and government organizations to give greenlights to the application for a better Uganda.