Digital money transfer provider, Simbapay, has announced the expansion of its instant deposit services to all Choice Microfinance bank accounts in Kenya.
Africa Press Organization reports that, the announcement came today at the annual “Kenya in the Park” event in London where they also exhibited the service. The expansion means that any transfers made by Kenyans living abroad through the Simbapay service to any Choice Microfinance Bank will be done free of charge and credited immediately.
This new development is of particular interest to Kenyans in Diaspora as the Choice Microfinance Bank was founded by Kenyans living abroad. Users will discover that Choice Bank has been pre-loaded on to the SimbaPay platform for ease of use. The service is already available to Kenyans in the UK and will soon be for other EU countries in the near future.
The Head of Operations for SimbaPay, Victor Karanja, said “Our customers who already bank with Choice Microfinance Bank or have friends & family using the bank will be glad to see their transfers being credited instantly.”
Stanley Kasyoka, Deputy CEO at Choice Microfinance Bank speaking about the partnership said, “We are very excited about this new partnership with SimbaPay which is heavily engaged with the economic force that is Kenyans living abroad. Kenyans abroad are the country’s largest earner of foreign exchange today.”