Visa Partners With 9 Banks to Offer Free Local Transactions

by Business Watch Team

Global electronic money transfer, Visa, has partnered with nine Kenyan banks to offer free domestic transactions.

The move by Visa has been seen as an effort to rival the competition from M-PESA, PesaLink and Airtel Money, who are the major players in Kenya’s financial sector.

The new partnership will see customers in the said financial institutions experience free person to person transactions by use of mVisa.

Some of the banks that have partnered with Visa include;

i) Barclay’s Bank of Kenya

ii) Cooperative Bank of Kenya

iii) Ecobank

iv) Family Bank of Kenya

v) National Bank of Kenya

vi) NIC Bank

vii) Prime Bank

viii) Standard Chartered Bank

Other two banks, Diamond Trust Bank and Stanbic Bank are in the process of joining Visa in offering the services.

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