Standard Chartered Kenya in partnership with Safaricom’s M-Pesa have introduced “Straight2Bank Mobile Wallet,” a new mobile payment service for corporate clients. Safaricom is Kenya’s leading Mobile Network operator.
“Straight2Bank Mobile Wallet enables the bank’s business customers to make payments to people who do not have access to traditional bank services by using Safaricom’s M-Pesa service,” said the bank, “The service will help corporates save time and costs by enabling them to make and track payments”.
The bank also stated that this service will not only be in Kenya but it also intends to offer it to other relevant countries across its footprint of Asia, Africa and the Middle East.
Standard Chartered also believes that the team with Safaricom is worthwhile as Safaricom is one of the fastest growing and most solidly backed mobile operators in Africa. The new service is expected to help consumers use and pay with their mobile phones as the government continues to push the mobile money sector.
Standard Chartered bank has now begun reaching out like other banks which is a very good thing and it was just about time they did, however, what about people in other networks? Is the Bank making arrangements for the inclusion of other networks? Another issue any person could ask is what was the motivation behind this could it be that the competition was taking effect?