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Money transfer service to boost diaspora remittances

CARTOON
By | August 31st 2010

By Macharia Kamau

A non-governmental organisation has developed a money transfer system that will help Kenyans in the diaspora remit money home.

The organisation, Heart for the City, said the facility dubbed Ushindi Mobile Money is a comprehensive payment management service that runs on the web and WAP through Java enabled phones.

The service will enable customers perform cross border money transfers as well interact with their bank accounts through their cell phones.

Though the service is network independent, Heart for the City has partnered with Mobile operator Essar Telecoms in launching the facility locally.

The facility is seen as a boost to Essar Telecoms’ yu brand that recently launched a mobile money transfer Service, yuCash, and try to battle for a share of the market that is dominated by Safaricom’s M-Pesa.

Computer centres

In a statement yesterday, Heart for the City, said the partnership would see yu and UMM set up computer centre across the country to bring the UMM and yucash services to more people.

UMM comes built in with any new yu line as an additional menu item. UMM will also provide access to cash through yuCash. "The service will be accessible and supported nationwide," said Lukas Njenga, the CEO Heart for the City.

"Our aim is to reach the Diaspora and connect them with family and friends. With UMM, one can pay bills, insurance premiums and send money from abroad."

He said customers could access the service from their mobile phones, which would enable them interact with their bank accounts.

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