The service dubbed ‘CashSend’ is set to allow Barclays Bank of Kenya account holders to transfer money to mobile phone subscribers.
Transactions are set to originate from Barclays ATMs, with recipients similarly withdrawing their funds from any Barclays ATM.
In order to transfer money, Barclays customers will need to purchase a money voucher at a Barclays ATM, specifying the amount they would like to send and the beneficiary’s mobile number.
A system-generated Personal Identification Number (PIN) will then be created for the transaction and a notification text sent to the beneficiary’s mobile phone number.
The originating customer will contact the beneficiary, share the PIN for the transaction and request them to redeem the money voucher at a Barclays ATM.
At any Barclays ATM, the recipient will need to access the cardless services menu and use the details sent on the notification text and PIN received to withdraw the funds.
In October 2010, Barclays Bank of Kenya, a subsidiary of UK financial services company Barclays, has signed an agreement with Kenyan mobile network operator Safaricom.
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