Kenya is again at the fore-front of digital advancement in Africa as Barclays introduces its recently launched Pingit payment service to the country.
Speaking on the recently launched service, Barclays Plc’s Chief Executive Antony Jenkins, said: “PINGIT is quick, convenient, secure and free – it’s revolutionized how people send and receive money in the UK, and now has the potential to transform international payments around the world. Kenya is a key market where Barclays has operated for over 95 years, and we anticipate significant demand for mobile payments across Africa.
“We constantly strive to improve and evolve our services around our changing customers’ needs, and this latest development is part of a series of enhancements to make mobile payments more accessible and easy to use. Barclays has a long history of innovation firsts and we continue to lead the way in the banking industry”.
The payment service operates on a person-to-person basis that allows users to send and receive money using mobile phone numbers. All a user has to do is download a free, password-protected application on their smartphone.
The service is said to have recorded a download hit of more than 1 million in its first six months. Barclays is now targeting the service to the Kenyan-born people in the UK and others who wish to send money to relatives back in Kenya. There are plans to also extend the service to Botswana, South Africa, Zambia, Tanzania, Ghana, Nigeria, Egypt, Zimbabwe, Uganda, UAE, Seychelles and Mauritius by the end of the year.
According to the Central Bank of Kenya, annual remittances to Kenya is in excess of $1b with a significant amount coming from Europe.