Simbapay and Family Bank Limited team up for mobile transaction

Simbapay and Family Bank Limited team up for mobile transaction

The parties agreed that over 20 million active M-Pesa users in Kenya can send money instantly via an M-Pesa Paybill number belonging to Family Bank to over 1 billion active WeChat subscribers in China. The cost of the transactions will vary on a sliding scale.
Family Bank customers will also be able to send money to WeChat wallets via the bank’s PesaPap mobile banking app and USSD service. Upon the transaction of the money, customers will be notified instantly informing them of the amount they will send in Kenyan shillings, the foreign exchange rate, as well as the Chinese Yuan amount which the recipient will receive.
Godfrey Kamau, Family Bank COO, commented: “This is a huge milestone for us and our customers. We are glad to extend, more so to our SME customers, a solution that offers an instant, reliable, traceable and affordable channel to send money to their suppliers and business partners in China”.
Read the rest of the story here.

 

Share
Share on facebook
Share on google
Share on twitter
Share on linkedin
Related Posts
Featured
This infographic gives an overview of how the different sectors within the ecosystem are positioned in the financial services value chain.
Widening the scope across borders this new production will not only include the Dutch fintech scene but highlight developments on a European level as well.

This website uses cookies to ensure you get the best experience on our website.
To learn more, read our privacy policy.

X
X