By MACHARIA KAMAU
Barclays Bank and Safaricom have entered into a partnership that is expected to see more corporates make bulk payments using mobile platforms. The agreement will enable companies disburse bulk payments through mobile money platforms.
The move will see companies pay employee salaries, dividends to shareholders, per diem allowances and pension payments directly to the mobile money accounts.
“It will now be possible for our business customers to pay a large number off people through our mobile bulk money transfer by simply uploading and submitting their names and mobile phone numbers to us,” said Barclays Bank Kenya Managing Director Jeremy Awori.
“The beneficiaries do not necessarily have to own a bank account to access their money.”
Awori said recent research shows that more people are now moving towards adopting mobile money transfer options. “Mobile banking has greatly improved accessibility to financial services in Kenya from as low as 20 per cent to over 50 per cent in a very short span of time.”
He observed that the mobile payment solution aims to provide consumers with convenience, flexibility and easy accessibility.
“The mobile banking product eliminates the need to carry hard cash and allows recipients to only withdraw on e-money as and when it is needed,” said Awori.
More accessible services
“Further to this development, our Barclays Integrator Internet banking solution allows you access to your Bank accounts across Barclays Africa via a single sign-on.”
He said the move will reinforce Barclay’s brand of providing banking solutions that are convenient.
Mobile bulk payments solutions are set to deepen financial inclusion in the region as transactional banking evolves to meet the banking demands of a fast growing East African population and Africa.
Many firms engage the services of casual labourers and payment is usually through cash. This, according to at Safaricom General Manager, Business Enterprise Unit Ms Sylvia Mulinge is a costly, tedious and risky activity for the firms and labourers.
