Chase Bank, Safaricom launch Mobile2Bank service

Chase Bank Kenya has partnered with Safaricom to launch a service to boost efficiency of businesses by aggregating all their banking services and making them accessible through a mobile phone.

Mobile2Bank will allow businesses make payments and collections directly to their bank accounts. It will also enable them access loans and move funds from one Lipa Na M-PESA till to another. "This product demonstrates how innovation can be harnessed. With Mobile2Bank, businesses will no longer need to make physical withdrawal from bank accounts to make payments to third parties," said Paul Njaga, Chase Bank CEO.