Kenya’s private bank Prime Bank has partnered with London-based fintech SimbaPay, to launch an instant international money transfer service via the bank’s digital platform PrimeMobi.
Through SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda among others.
“Businesses, as well as Kenyans and expatriates with friends and family abroad, send over $18 Billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the Simbapay network. Therefore, this service will offer Prime Bank’s customers a world-class fully digital International Money Transfer service.” Victor Karanja, SimbaPay’s Head of Operations said,
To access the service, customers will need to login to the bank’s mobile banking app – PrimeMobi, then click on International Money Transfer icon on the homescreen.
After confirming the amount to be sent, the sender’s bank account will be debited and money credited to the beneficiary instantly. Transfers can also be sent from M-Pesa using a dedicated SimbaPay @ Prime Bank pay bill number.
“Through our digital platforms, we aim to make available a one stop solution to our customers in terms of funds transfer and with the inclusion of SimbaPay, our customers will now send money to friends and family across the world at the comfort of their mobile phones.” Vijay Kantaria, Prime Bank’s Director for Business Development said.