New mobile money transfer platform for Kenya

November 29, 2016 1:15 pm3 comments

KCB M-PESANAIROBI, (CAJ News) – KENYA Commercial Bank (KCB) and Western Union, a leader in global payment services, have announced the launch of a mobile-phone-based money transfer service.
KCB customers can now use the KCB mobile banking option to direct money transferred from abroad via Western Union® services into their bank account.
Customers can also pick up transactions sent via the Western Union Money TransferSM service from all KCB locations, or call KCB Call center to direct the money into their KCB account.
Edward Ndichu, KCB Head of Digital Financial Services and Mobile Payments, says they are intensifying their level of investment in digital banking, to give customers faster and more convenient services, understanding that the future of banking is in digital.
Richard Malcolm, Regional Vice President of Southern and East Africa for Western Union, says their focus is to provide seamless and value-added banking and financial services in the markets where they operate.
“We are pleased to offer even more ways for consumers to receive funds, through digital banking channels that meet the changing needs of consumers,” says Malcolm.
During the last few years, mobile banking and new electronic platforms have boosted the remittances market in Kenya. According to the Central Bank of Kenya, diaspora remittances to Kenya have recorded a steady growth over time.
Inflows from January to June 2016 reached Kshs 87.3 billion (USD $861.9 million). KCB and Western Union have been working together since 2005 to offer Western Union services in Kenya.

CAJ News


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