Investrust customers to transact using mobile

VALUE ADDED SERVICES

-
Image: By BiztechAfrica
Investrust customers to transact using mobile

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.



Mr Mbewe - Feb. 15, 2013, 3:41 p.m.

how do i get connected to investmobile network.

John Banda - May 8, 2013, 8:45 a.m.

It is an advantage on most of us.

Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

SIA Group enters African card payments sector

Perago has signed an agreement with Swish Payments to support its new m-commerce initiative in Africa and Europe. Read More

MTN partners Salt & Einstein MTS, NHIS on insurance

MTN Nigeria says it has partnered Salt & Einstein MTS and the National Health Insurance Scheme (NIHS) to help push health insurance to many people in the country leveraging on its wider reach. Read More

Free Twitter on Econet

Econet Wireless is now offering free access to Twitter to all subscribers on Econet Broadband.  Read More

Gemalto, GSMA drive African mHealth initiative

Gemalto has announced its partnership with (global System for Mobile Communication Association (GSMA1) to drive the pan-African mHealth Initiative (PAMI). Read More

Has Africa slowed in global mobile payments innovation?

wiGroup says Africa has lost ground to the US and China in the mobile payments innovation race. Read More

New mobile payment system goes live in SA

Mobile payment system Zapper has launched its innovative and secure payment app for smartphones in South Africa. Read More

Mobile banking numbers to pass online banking by 2019

New findings from Juniper Research finds that over 1.75 billion mobile phone users will have used their devices for banking purposes by the end of 2019, compared to 800 million this year. Read More

Remita’s e-transactions hit N500bn

Nigerian electronic payment platform Remita says it is driving cashless initiatives, and currently processes electronic transactions valued at N500billion monthly. Read More

Nigeria’s cashless campaign goes nationwide

In spite of obvious hiccups, the cashless initiative of the Central Bank of Nigeria (CBN) goes live in the 36 states of the federation and Abuja, the Federal Capital Territory (FCT) today. Read More

More than 2.5m Rwandans now using mobile payments

The number of mobile payments subscribers in Rwanda has reached more than 2.5 million, according to figures in the recently-published Rwandan ICT Sector Profile.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Widening ICT skills gap: Cause for concernWidening ICT skills gap: Cause for concern

Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.

IN DEPTH

Kenya rolls out e-extension to improve agricultureKenya rolls out e-extension to improve agriculture

In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.

COMPANY NEWS

VMware reports second quarter 2014 results

VMware, the global leader in virtualization and cloud infrastructure, today announced financial results for the second quarter of 2014.

New Sage ERP X3 version puts business information at your fingertips

Sage ERP Africa has announced the availability of Sage ERP X3 version 7, the latest version of its global business management solution for midsized companies. 

How the cloud can power entrepreneurship and urbanisation in Africa

Cloud computing is not only fundamentally changing the way business operates, it is also driving a new wave of job creation opportunities, says SAP Africa.