AfrAsia Bank and MasterCard introduce Africa’s first travel rewards program offering real time booking on over 450 airlines and at 200,000 hotels to its World and Titanium MasterCard cardholders. In collaboration with Infinia Services & Solutions and MasterCard, this travel rewards program enables cardholders to earn XtraMiles whenever they swipe their World or Titanium MasterCard
Smart Banking Solutions Limited (SBS) has introduced the first prepaid bank grade closed loop card of its kind in Tanzanian market, named B-PESA. Speaking shortly before unveiling the B-PESA card at a ceremony held in Dar es Salaam on Wednesday, the SBS Managing Director Mr Gustav Vermaas said the card allows a customer to transact
Barclays Bank of Kenya has unveiled a new cardless money transfer service that allows customers to send and receive money at any Barclays ATM. The service, named “CashSend”, will allow Barclays Bank of Kenya account holders to securely transfer money to mobile phone subscribers. Transactions will originate from Barclays ATMs, with recipients similarly withdrawing their
Bank of Tanzania (BoT) is out to hook ‘unbankable’ population to the financial services at affordable costs at a time when penetration is around 14 per cent. The BoT and financial inclusion stakeholders will launch a National Financial Inclusion Framework on Thursday, an occasion expected to be graced by Queen Máxima of the Netherlands and
Equity Bank and American Express have announced a partnership agreement, through which Equity Bank will act as the exclusive issuer of American Express Card products in Kenya, Tanzania and Uganda. As part of this agreement, Equity Bank will also acquire merchants on to the American Express network in these countries. Equity Bank will begin issuing
Tanzania is considering operating its bank payments system on Saturdays, allowing customers to transfer money around, with traders remaining confident that the move would not affect banks’ trading positions. The opening of real time gross settlements (RTGS) will allow banks’ customers to move money from one account to the next, a departure from the present
M-PESA, Safaricom’s flagship brand is set to revolutionize e-commerce in Kenya with the launch of its online payment service. Lipa Na M-PESA online is a new service that will allow local traders to accept online payments for the purchase and sale of goods and services. Kenya has in recent times witnessed remarkable growth in online
Nairobi-based BitPesa is in discussions with multiple banks and network operators in Kenya over partnerships that could allow the mass introduction of Bitcoin remittance payments into the East African country. The startup, which is still in discussions with regulators and will not launch until approval is granted, was thought up by micro-finance and cryptocurrency expert
Airtel Tanzania has raised its daily limit of its money service to Sh3 Million to enable customers transact larger amounts of money. Announcing the new transaction limits in Dar es Salaam, the Airtel Money Manager, Asupya Nalingigwa said Airtel customers would be spared of inconveniences of doing multiple transactions as they would be able to send
Bank of Africa-Kenya has launched a new service that allows members of investment groups, known locally as ‘chamas’, to transact on their mobile phones. The product that is known as M-Chama will be rolled out in partnership with mobile phone service providerSafaricom. It seeks to leverage on the wide reach of mobile phones in the
