Payments firm Interswitch Group has inked a deal with money transfer provider SimbaPay to allow clients to receive remittances through mobile money and its network of ATMs.
This means Kenyans in Europe using SimbaPay to send money back home can now directly remit via mobile or the cash can be accessed at Interswitch’s network of 1,000 Verve ATMs.
Interswitch, a Lagos-based payments processor, rebranded from PesaPoint.
“What this solution is providing is interoperability in cash-in/out options,” said Paul Ndichu, chief executive at Interswitch East Africa. The SimbaPay app also allows remittances from Europe to Ghana, Nigeria, and Uganda.
Mobile money is fast gaining currency as the channel for diaspora remittances as opposed to the earlier method of using agents such as banks.
“Our goal of connecting all Africans living abroad to any mobile money wallet or bank account in Africa just moved one step closer,” said SimbaPay chief executive Nyasinga Onyancha.