Investrust customers to transact using mobile
VALUE ADDED SERVICES| Aug. 7, 2012, 9:23 p.m.
By Edith Mwale, Lusaka, Zambia
Customers of Zambia’s Investrust Bank will now be able to transact using their mobile phones, with the launch of InvestMobile.
The facility will take bank access to unbanked communities in urban and rural areas.
The bank’s Managing Director, Friday Ndhlovu, says the product will be rolled out to existing account holders before being extended to the unbanked communities.
“More than a billion people in emerging and developing markets have cell phones but no bank accounts. Mobile money is beginning to fill this gap by offering financial services over mobile phones, from simple person-to-person transfers to more complex banking services,” Ndhlovu said.
InvestMobile, among other features, provides an account summary of the last seven transactions, payment of bills to various utility companies including Lusaka Water and Sewerage Company and MultiChoice and Zesco.
Through the facility, customers will also be able to view status on accounts such as deposits, loan statement and position on cleared or uncleared cheques and make transfers within the bank and external accounts held with other banks.
Ndhlovu said the bank has over the past years invested heavily in its systems and information communication technology (ICT) infrastructure using the funds raised through the Lusaka Stock Exchange (LuSE) in 2007.
Ndhlovu cited InvestNet, an internet online banking which has online account and transaction, VISA GreenCard with the latest chip and pin technology which ensures maximum security.
MORE VALUE ADDED SERVICES NEWS
Terragon Group to unveil African-focused Mobile Advertising Technology at MWCNigeria-based Terragon Group is set to unveil its dynamic data monetisation and advertising platform, described as a first for mobile in developing markets, at MWC. Read More
MTN demonstrates the benefits of its video on demand offeringMTN showcased the benefits of FrontRow when it streamed high bandwidth video content onto multiple mobile devices using its video on demand (VOD) offering. Read More
Vodacom, Tigo agree on mobile money interoperabilityMillions of M-Pesa and Tigo Pesa customers in Tanzania will soon be able to send and receive money directly into each other’s wallets. This follows the recent signing of a mobile money interoperability agreement between Tigo and Vodacom. Read More
Airtel Ghana launches DOTGO SMS Web browsing serviceAirtel Ghana has deployed DOTGO’s SMS-based Internet service, which enables any mobile phone to be Internet-accessible without data or Wi-Fi. Read More
MoneyGram reaches 25,000 locations across AfricaMoneyGram has announced an agreement with Safaricom that enables consumers in over 90 countries outside Kenya to send funds directly to nearly 20 million customers of M-PESA. Read More
TrustPay defines new space in cashless payment, commerceTrustPay has officially launched a new range of innovative m/e Commerce merchant solutions it says are set to accelerate economic growth in developing markets. Read More
Econet launches Dial a DocEconet Wireless has launched a new service that will allow subscribers to access health advice 24/7 via a mobile phone. Read More
Multi-bank mobile money goes live in EthiopiaThe new interoperable HelloCash mobile money platform has gone live in Ethiopia, aiming to provide financial services to all Ethiopians. Read More
Mobile app makes work easier for health workersThe iAfya mobile health information app is gaining momentum in Kenya, as health workers increasingly use it to learn and to educate communities. Read More
FEATURED STORYMalawi Govt denies clinging to ‘Cashgate’ software
The Malawi Government will not exclude the software brand that has been in use for the country’s Integrated Financial Management System (IFMIS), but it has rejected reports implying that it is ‘clinging’ to the old system.
BEST READ NEWS
IN DEPTHKenya’s digital TV battle hots up
Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.
COMPANY NEWSMTN demonstrates the benefits of its video on demand offering
MTN showcased the benefits of FrontRow when it streamed high bandwidth video content onto multiple mobile devices using its video on demand (VOD) offering.VMware appoints Bask Iyer as chief information officer
VMware has announced the appointment of Bask Iyer to the role of senior vice president and chief information officer (CIO) of VMware.