Chase Bank of Kenya has announced a strategic partnership with the management of Safaricom, an online money transfer platform in a bid to launch its new Mobile2Bank Service. Chase Bank is a Kenya-based bank which provides financial services to the general populace and seeks to get new ways in which to please its customers. One of those ideas birthed this union.
Mobile2Bank is considered to be a pioneer innovation and believed to help business and individuals make payments to their banks directly and without hassle, boosting the banking system and increasing the customer experience likewise. This is not all. The platform also gives businesses access to loans and allows them move funds from one account held with M-Pesa to another, all events occurring in realtime.
The CEO of the Chase Bank of Kenya, Paul Njaja, has said “This product demonstrates how innovation in the mobile space can be harnessed to address some of the common pain points in businesses.” He further said that “With Mobile2Bank, businesses – small and large, will no longer need to make physical withdrawal of cash from bank accounts to make payments to third parties, thereby enhancing their efficiency.”
It is believed that this service would be a huge boost for M-Pesa agents all around as moving money from their own tills to the agent’s bank account has now been made easier.