The newly launched Pingit mobile money transfer

Moving in a positive direction towards embracing technological advancements, Barclays Bank of Kenya officially launched the first of its kind mobile money transfer dubbed “PINGIT”, to further boost its ever growing mobile commerce and remittances from residents residing in the United Kingdom.  Given the steady economic growth Kenya has recorded over the recent years, expectations are highly set as plans of realizing the country’s blueprint Vision 2030 are underway and with the inception of “PINGIT” services, Barclays Bank customers can now be able to enjoy convenient money transfer solutions via their mobile phones. Kenya was selected as the lead launch state in the African continent for its ability to fast adapt to new technology in the Sub-Sahara Africa.

Being the first ever International bank to launch fee-free mobile money transfer solution, no commission whatsoever will be charged for all international money transfers. Transferred funds will be credited in the customer’s accounts at the prevailing market rates, within minutes. Speaking during the launch, Barclays Bank Managing Director Adan Mohamed said that the Bank already has plans to extend its services to twelve more countries across the continent and Europe towards the end of this fiscal year and early 2013. Among the African countries are Ghana, South Africa, Zambia, Botswana, Tanzania, Nigeria, Uganda, Egypt, Zimbabwe, Mauritius, Seychelles and United Arab Emirates.

“Our loyal customers can now enjoy the newly launched “PINGIT” to conveniently receive money from their loved ones in the United Kingdom. The launch marks the affirmation of the country’s potential and growing economy in the international financial market,” said Mohamed. The new application enables U.K residents to send money without revealing their bank details online, irrespective of whether they are Barclays Bank customers.

Commenting on the launch, Barclays Bank Chief Executive Antony Jenkins said, ““PINGIT” is a fast, secure, convenient and free way to receive money and this will absolutely revolutionize how people will send money from U.K. We do anticipate for a significant demand for mobile payments across Africa following the planned rollout.”

By simply downloading the Barclays “PINGIT” app from the smartphone, one can effect instant money transfers to anyone in Kenya from the U.K by following the easy laid out steps. In less than twenty minutes, the recipient’s bank account would be credited with the sent amount. However, a maximum of 750 pounds can be sent per day from the U.K.

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