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Online & Mobile Banking

Visa streamlines free money transfers in Kenya

Monday 17 July 2017 | 10:38 AM CET

Visa has announced that customers of Visa-affiliated banks in Kenya will be able to send money domestically using mVisa without any transaction fee.

The partnership that aims to offer free person-to-person transactions includes nine Kenyan banks that have enabled mVisa on their mobile banking applications and/or have acquired merchants that accept the service. These banks are: Barclays Bank, Cooperative Bank, Ecobank, Family Bank, KCB Bank, National Bank of Kenya, NIC Bank, Prime Bank and Standard Chartered Bank.

Consumers can use the service to send funds directly from their bank to a recipient's bank account, regardless of whether they use a smartphone or feature phone. Transactions are processed via VisaNet.

The service will also be accepted at thousands of merchant locations across the country including Nakumatt, KenolKobil, IMAX Theaters, EatOut, Zucchini, Little Cab, Kenya Airways, and Bata, according to Mobile Payment Today.

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