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Kenya’s Prime Bank partners SimbaPay to launch money transfer service

By , ITWeb
Africa , 09 Nov 2020

Kenyan private bank Prime Bank has partnered with London-based FinTech firm SimbaPay to launch an instant international money transfer service via the bank’s digital platform PrimeMobi.

The companies claim that through SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda among others.

In a statement released to the media, SimbaPay’s Head of Operations Victor Karanja said: “Businesses as well as Kenyans and expatriates with friends and family abroad send over $18 Billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the SimbaPay network. Therefore, this service will offer Prime Bank’s customers a world-class fully digital international money transfer service.”

Prime Bank’s Director for Business Development, Vijay Kantaria said the tier 2 lender has embarked on investment in technology through partnering with various FinTechs to accelerate its digital integration plan.

“Through our digital platforms, we aim to make available a one stop solution to our customers in terms of funds transfer and with the inclusion of SimbaPay, our customers will now send money to friends and family across the world at the comfort of their mobile phones,” added Kantaria.

To access the service, customers will need to log in to the bank’s mobile banking app - PrimeMobi, then click on International Money Transfer icon on the homescreen. After confirming the amount to be sent, the sender’s bank account will be debited and money credited to the beneficiary instantly.

Transfers can also be sent from M-Pesa using a dedicated SimbaPay @ Prime Bank pay bill number.

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