Barclays Bank PLC has chosen Kenya as the lead launch pad for its new mobile money transfer service called PINGIT.
The new service will boost mobile commerce and Diaspora remittances as well as allow customers a convenient way of conducting money transfers on their mobile phones.
At the official launch of the free service it was also revealed that Barclays plans to roll out the service across 12 African Countries by the end of the year as well as expanding it further into Europe during early 2013.
Barclays Bank Managing Director Adan Monhamed said: “The launch of Barclays PINGIT on the Kenyan market is an affirmation of the country’s growing relevance in the international financial market.
“For our loyal customers, the launch of PINGIT will also be a convenient choice that will allow Barclays Hello Money customers in Kenya to receive money from their friends, families and business associates in the UK for free.”
Barclays Plc Chief Executive Antony Jenkins, said: “PINGIT is quick, convenient, secure and free – it’s revolutionized how people send and receive money in the UK, and now has the potential to transform international payments around the world. Kenya is a key market where Barclays has operated for more than 95 years, and we anticipate significant demand for mobile payments across Africa.
“We constantly strive to improve and evolve our services around our changing customers’ needs, and this latest development is part of a series of enhancements to make mobile payments more accessible and easy to use.
“Barclays has a long history of innovation firsts and we continue to lead the way in the banking industry”.
Whether they bank with Barclays or not, UK residents can now send money instantly and securely by simply using their smart phones without having to reveal or enter their bank account details.
Source: African Business Review
By: Sheree Hanna