East and Central Africa's largest media conglomerate, the Nation Media Group (NMG), has entered into the foray of financial services with its planned launch of a new electronic international money transfer service targeting Kenyans in the diaspora.

NMG tomorrow plans to launch NationHela, which allows Kenyans in the diaspora to send money straight to a recipient’s NationHela account. This money can then be accessed using a prepaid Visa card and their mobile phone. The service is also linked to Paypal.

The media group has partnered with the Diamond Trust Bank (DTB) to roll out the NationHela card, which can also be accessed at Nakumatt supermarkets. The NationHela prepaid card will retail at $6.

The NationHela card is accepted at over 8,000 local Visa outlets in Kenya, Visa ATMs and over 30 million Visa outlets worldwide.

The card can be used to purchase goods or services at retail outlets and withdraw cash from ATMs . The service also allows users to pay electricity and water bills through their mobile phone as well as transfer money to their mobile money accounts such as M-Pesa.

“NationHela is a new, simpler and more convenient international money transfer service that allows you to receive money, from anywhere in the world, straight to your NationHela prepaid Visa card and mobile phone,'” reads a promotion on the NMG website.

“The NationHela Visa card has many benefits as one does not have to visit a money transfer agent to receive money sent from abroad since the money comes straight to their NationHela account,” NMG officials said.

The service has been used by the NMG's staff for several months, with the company saying its staff received their Christmas gifts through the prepaid Visa card last December.