July 14, 2017Blog Posts

Visa brings free domestic money transfers to Kenya

Finextra:

Visa announced today that consumers of a Visa-led bank partnership in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa. The partnership offering free person-to-person (P2P) transactions currently includes nine Kenyan banks who have either enabled mVisa on their mobile banking applications and/or have acquired merchants to be able to accept mVisa. These are Barclays Bank, Cooperative Bank, Ecobank, Family Bank, KCB Bank, National Bank of Kenya, NIC Bank, Prime Bank, and Standard Chartered Bank will be able send money for free starting from today. Other banks, either live or about to go live with mVisa, include Diamond Trust Bank and Stanbic.

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