New mobile money transfer service launches in Kenya

Nov 15, 2012

A new mobile money transfer service is now up and running in Kenya.

A new mobile money transfer service is now up and running in Kenya.

Barclays Bank has set up PINGIT in an effort to offer customers a more convenient way of transferring funds to friends, relatives and business associates across the globe, reports Capital FM.

This could encourage more people to make transactions via the mobile channel and potentially increase Diaspora remittances in the coming months.

Adan Mohamed, managing director of Barclays Bank in Kenya, commented: "The launch of Barclays PINGIT on the Kenyan market is an affirmation of the country's growing relevance on the international financial market."

This looks set to be followed by similar launches in other African countries in the near future.

Indeed, Mr Mohamed confirmed PINGIT will be rolled out in 12 nations before the end of 2012, while it could also be made available in Europe next year.

Antony Jenkins, chief executive of Barclays PLC, added that Kenya is a "key market" for the firm and said PINGIT is a "quick, convenient, secure and free" option that could potentially transform how people move money across the globe.ADNFCR-2976-ID-801488919-ADNFCR