Absa Bank Kenya and Visa Launch a Money Remittance Service

Absa Bank and global payments company Visa have today launched a payment solution aimed at easing local and cross-border transactions.

The Absa-Visa Send Money is developed to help Absa debit and credit cardholders to transfer funds from their Visa Card accounts to any overseas or domestic Visa debit, credit, or prepaid cards via the Hello Money USSD and Absa mobile banking app.

Jeremy Awori, Absa Bank Managing Director cited the product as one of the best in this category. Awori added that the Absa-Visa Send Money solution enables customers to complete transactions in just a few seconds in a seamless and secure way.

“We are excited to have partnered with Visa as we avail this innovative customer proposition, the latest addition to our growing portfolio of services and solutions launched to deliver faster, more secure, and convenient remittance processes for Absa customers. The new remittance service is designed to simplify Absa customers’ remittance experience allowing them to enjoy near real-time fund transfers to friends and families overseas,” said Mr. Awori.

The product facilitates transactions of up to one million shillings, although it has not been established how many batches of 1 million you can send in a day. Mr.Awori said the service will be available in 180 countries and can transact across 160 currencies.

Visa, Vice President and General Manager, East Africa, Corine Mbiaketcha said such partnerships will make Visa  “more than just an ATM card.”

“Visa Direct is a simple, fast and secure way for individuals to transfer funds directly to eligible Visa debit and prepaid accounts. We strive to help make a difference in people’s lives by innovating to remove friction from traditional and time-consuming money-movement processes. We are proud to partner with Absa and support their ambitions to lead the Kenyan banking industry with the latest digital solutions.”

This is Visa’s second partnership in about a month after a similar collaboration with leading telecommunications provider Safaricom. Absa expects to undertake more innovations with Visa in a bid to continue improving customer experience.

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Simon W Nderitu

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