Mobile2Bank, Partnership, Chase Bank, Safaricom

Business, Chase Products, Mfukoni App, SME Banking

Chase Bank Launches Mobile2Bank.

30 Oct , 2015  

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Chase Bank Kenya has partnered with Safaricom to launch a service that will boost the efficiency of businesses, by aggregating all their banking services and making them accessible through a mobile phone.

Mobile2Bank, which is the first of its kind in Kenya, will allow businesses to make payments and collections directly to their bank accounts. It will also enable them access loans and move funds from one Lipa Na M-PESA till to another in real-time.

“This product demonstrates how innovation in the mobile space can be harnessed to address some of the common pain-points in businesses. With Mobile2Bank businesses- small and large, will no longer need to make physical withdrawal of cash from bank accounts to make payments to third parties thereby enhancing their efficiency,” said Paul Njaga, Chief Executive Officer, Chase Bank.

Safaricom’s Chief Executive Officer, Bob Collymore said, “Mobile-money has been the most impactful positive disruption to the financial services sector, and we are proud to be at the core of this development. Mobile2Bank’s launch today illustrates that we can still do more through strategic partnerships like these.”

 

Mobile2Bank, Partnership, Chase Bank, Safaricom

Bob Collymore, CEO, Safaricom Ltd (Left) and Paul Njaga, CEO, Chase Bank Kenya (right) after signing of the Mobile2Bank Partnership on 30th October 2015.

Among those who will use Mobile2Bank are M-PESA agents who can now move float between their tills and bank accounts in real-time, and send float directly to another agent’s account- without having to visit the bank. The will also be able to access loans that will boost their operations through Mobile2Bank.

Kenya has been ranked among the top five African countries with the fastest growth in telecommunication, infrastructure and mobile money innovations. The engine behind rapid growth has been mobile telephony which has caused a mobile revolution in the country. Mobile penetration in Kenya is currently at 82.6 percent with 33.6 million subscribers, proving that the mobile phone is fast becoming an important tool in transforming lives.

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4 Responses

  1. […] the other day, we launched Mobile2Bank, a mobile solution that will revolutionize your business. Here’s […]

  2. […] Business are also benefiting from this innovation because clients can now make payments much faster, they can transfer money much faster, and as business people they can spend their time doing business rather than spending it in the bank carrying out transactions. Amazingly, mobile banking is still evolving. […]

  3. francis kioko david says:

    i like but try to set unlimited amount currently have being trying but lot unsuccessful can you recheck my account

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