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Mobile Payments

Family Bank taps Safaricom's M-Pesa for mobile loan repayment service

Thursday 3 September 2009 | 09:19 AM CET

Kenyan financial services provider Family Bank has teamed up with mobile network operator Safaricom to launch Pepesha Pesa, a news service which allows Family Bank customers to carry out transfers and repay loans via their mobile phones.

The Pepesha Pesa service leverages Safaricom’s M-Pesa mobile phone-based money transfer platform. It allows customers to repay loans without having to visit a bank branch, thus enhancing financial services availability and contributing to the expansion of Family Bank’s customer base in remote rural areas.

The M-Pesa mobile phone-based transfer service allows customers to deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.

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