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
DRC mobile banking faces challenges in remote areasIsidore Monga is a civil servant whose salary, like millions others in the Democratic Republic of Congo (DRC), is now being paid via mobile banking. Read More
Orange, Bank of Africa to offer new mobile financial services in AfricaIn the coming months, Bank of Africa and Orange Money customers will be able to transfer money directly from their Orange Money account to their BOA account and vice versa simply with their mobile. Read More
Over 20m airtime advances through PasavuteNet1 Mobile Solutions in partnership with Supa Pesa, has serviced more than 20 million airtime advance requests for the advance airtime service Pasavute from Telekom Networks Malawi (TNM). Read More
Smart wearables market to generate $53bn hardware revenues by 2019New findings from Juniper Research revealed that the global retail revenue from smart wearable devices will treble by 2016, before reaching $53.2 billion by 2019, compared to the $4.5 billion expected this year. Read More
MFarmer SMS redefines market access for Ugandan farmersUgandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures. Read More
University of Yaounde I adopts MTN Mobile MoneyMTN Cameroon has signed a partnership agreement with the University of Yaounde I for the use of the MTN Mobile Money solution by students for their financial transactions with the university. Read More
Agents say Glo Xchange will empower NigeriansAgents of Nigeria’s super mobile money agent network, Glo Xchange have commended Globacom for the platform which is aimed at deepening financial inclusion and promoting Nigeria’s electronic payment system. Read More
Tigo Tanzania launches mobile money savings serviceMillicom-owned Tigo Tanzania has launched Tigo Wekeza - “Tigo Invests” - the world’s first mobile money service that allows customers to earn automatic returns on their balance. Read More
MasterCard, Apple to Integrate Apple Pay Cardholders for mobile paymentApple has unveiled Apple Pay that will enable MasterCard cardholders to use their iPhone 6, iPhone 6 Plus and Apple Watch for everyday purchases. Read More
MTN partners with Skrill to enable global digital payments for mobile moneyMTN and Skrill have announced a partnership agreement focused on helping MTN subscribers to take part in the global digital revolution by being able to use funds in their mobile wallets to buy from global internet brands integrated into the Skrill network. Read More
FEATURED STORYMFarmer SMS redefines market access for Ugandan farmers
Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures.
BEST READ NEWS
IN DEPTHNIG President speaks his mind
Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.
COMPANY NEWSSAP innovation transforms how Governments conduct business
SAP Africa kicked off its public sector innovation roadshow in Johannesburg, to highlight how the SAP innovation solutions portfolio including, cloud and big data, supports all levels ...VMware announces general availability of new solutions for building, managing and protecting softwar
VMware has announced the general availability of VMware NSX 6.1, VMware vCenter Site Recovery Manager 5.8, VMware vCloud Suite 5.8, VMware vRealize Operations Insight, VMware vRealize Suite ...