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New Cash Transfer Platform For Kenyan Diaspora Launched

By Mwakilishi | Mon, 08/30/2010 10:06AM -0500
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A new mobile money transfer platform targeting Kenyans in the diaspora has been launched.

The new system involves Heart of the City, a Christian organisation, in partnership with yu.

The payment service dubbed Ushindi Mobile Money runs on the web and WAP through java and GPRS capable phones and is also available as a software download.

The software will come built in with new yu lines and will provide access to cash through Yu-Cash.

“Today marks a new milestone in the information and communication industry; 12 years ago, we began to create a secure platform that would enable Kenyans to access various mobile payments services through the internet. Today we see UMM come to life,” said Dr Lukas Njenga, Heart for the City CEO during the launch.

The firm has partnered with local banks, insurance companies and investment banks to enable those in diaspora access their accounts, pay insurance premium and invest without using middlemen.

“This allows Kenyans outside not only to send in money but also get involved in investment and development,” he said

Service providers have given a uniform introductory fee of $5 for sending money from the US and 5 pounds for those sending from Britain.

“Local transfers will be free for customers, we are looking to drive revenues through the services to our corporate partners,” said Rev Njenga.

http://www.nation.co.ke/business/news/New%20cash%20transfer%20for%20dias...

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