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
FNB has announced that its customers can now purchase iTunes gift codes for the iTunes Store in South Africa using the FNB Banking App. “We believe that FNB customers will benefit greatly from the convenience of purchasing, sending or redeeming iTunes gift codes quickly and effortlessly via the FNB Banking App. The codes can be
The Standard Bank of Namibia has officially unveiled its smart banking app, allowing customers to access banking services more conveniently through their smartphones or tablets, with plans to launch a second version next year. The new mobile banking platform will allow customers to check their account balance, view the last five transactions through a mini
The results of the eBucks 2012 Festive Survey are in, and they reveal that South Africans are not going to be stopped from spoiling their loved ones this festive season – despite challenging economic conditions. Fifty four percent of the survey’s respondents said they were planning to spend up to R500 per gift, 29% were
The rivalry that has been brewing in the mobile money industry in Kenya has gained momentum recently. Safaricom, the telecommunications provider behind the extremely successful M-Pesa mobile money service has been taken to the Competition Authority of Kenya (CAK) by rival company Airtel, who are complaining of unfair practises with regards to M-Pesa’s fee structure.
The banking sector contributes little to the economy despite its improved stability, continued growth and dominance in the financial system, the Governor of the Central Bank of Tanzania, Prof Benno Ndulu says. The BoT governor says in the 2012 Annual Report of the Bank of Tanzania’s Directorate of Banking Supervision that the contribution of the
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
