MasterCard has joined Visa, Google and Safaricom in rolling out a service allowing Kenyan commuters to pay public transport fares using mobile money. To use the MasterCard PayPass, commuters can tap cards on a mobile phone or gadget to pay their fares, with MasterCard saying the payment solution will be launched by June. It also
Guaranty Trust Bank plc (GTBank) has now concluded the acquisition of a 70% stake in Fina Bank Group, after securing the required regulatory approvals in the 3 East African countries – Kenya, Rwanda, Uganda as well as in Nigeria. GTBank acquired a 70% stake in Fina Bank Group through a combination of capital injection as
Kenya’s NIC Bank has announced the launch of NOW mobile banking, a platform that facilitates efficient, on-the-go financial services including online cheque deposits. The company has developed a mobile application and online banking service. “This strategic shift is an answer to the emerging “NOW” generation that demands everything on their fingertips. Through this strategy, we
ElectraCard Services (ECS), a leading provider of software and processing solutions for electronic payment systems, announced that the student prepaid cards program at Chase Bank, Kenya has been launched on the electra platform. ECS is the technology and processing partner for the program and leverages its PA-DSS certified electraPREPAID platform to provide a seamless, safe
Airtel Kenya is set to launch a mobile loans service to challenge Safaricom’s M-Shwari, more than a year after a partner sued Safaricom for allegedly stealing the idea. Airtel originally partnered with microfinance firm Faulu Kenya in May 2012 to launch Kopa Chapaa, aimed at advancing loans facilities via mobile phones, with Safaricom launching M-Shwari
Kenya, South Africa and Nigeria, and the African continent as a whole, lead the world in the uptake of mobile banking, according to a new report by mobile trade association MEF. The first report in MEF’s Global Consumer Insights Series on Mobile Money said 82 per cent of consumers in Africa engaged in mobile banking,
As global smartphone penetration increases, so does Kenya’s mobile content and commerce activity. The infographic below comes from txtNation, who recently launched their Kenyan mobile billing solution, using Premium SMS. Kenya has seen some of the fastest growth in mobile commerce, with a 97% increase in 2013 and an impressive 77% of internet-enabled mobile phone
The Kenya Bankers Association have released the findings of their latest survey which looks at the interplay between banks, mobile network operators and agency banking. The survey shows that a majority (60%) of Kenyans are utilising mobile phones to perform financial transactions, which has been helped by increased commitment by banks to offer mobile banking
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorised international remittances service providers in Kenya. A remittance is money sent by a person in a foreign land to his or her home country. Due to the huge sums involved, remittances
The provider of mobile billing and messaging solutions, txtNation, has now launched its mobile billing solution using Premium SMS in Kenya, allowing businesses to accept mobile payments in the African country. Kenya is one of the fastest growing markets in mobile content and mobile commerce activity, with a 97% growth in 2013. With a population
