Safaricom, the Kenyan mobile network operator has concluded plans to launch a new platform that will allow M-PESA users transfer fund from their banks accounts into their mobile wallets, Techmoran reports.
A structure had been on ground that allows a Bank to Wallet transfer, according to TechMoran, and it’s this existing platform that is being upgraded in line with technology advancement.
The plan has reportedly been approved by the Central Bank of Kenya.
“This service, like any other service on our platform, will attract charges. The charges that we will implement are similar to what applies for P2P M-PESA transactions (transfers from an M-PESA wallet to another),” TechMoran quotes Safaricom’s Director for Corporate Affairs, Stephen Chege.
Safaricom has given its partner 30 banks and 160 financial institutions till December 1 to communicate the new service to their customers before charging for the service.
M-PESA is a mobile based money transfer that allow users receive and transfer money on an account based on their mobile phone. It was launched by Safaricom in 2007.
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