Prime Bank Launches Instant International Money Transfer Service

Prime Bank launches SimbaPay - International Money Transfer Service

Seated on left is Vijay Kantaria (Director for Business Development, Prime Bank) and Victor Karanja (Head of Operations, SimbaPay),

Prime Bank Kenya customers will now be able to instantly and securely send money internationally to bank accounts or mobile wallets via the bank’s digital platform PrimeMobi.

The Kenyan private lender said it has tied-up with London-based FinTech SimbaPay to send money across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda.

Prime Bank’s Director for Business Development, Vijay Kantaria said the tier 2 lender has embarked on investment in technology through partnering with various FinTechs to accelerate its digital integration plan.

“Through our digital platforms, we aim to make available a one-stop solution to our customers in terms of funds transfer, and with the inclusion of SimbaPay, our customers will now send money to friends and family across the world at the comfort of their mobile phones,” added Mr. Kantaria.

SimbaPay’s Head of Operations Victor Karanja noted that the service will provide a seamless platform for Prime Bank’s customer base to send money abroad at the click of a button.

“Businesses, as well as Kenyans and expatriates with friends and family abroad, send over $18 Billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the Simbapay network,” added Mr. Karanja.

To access the service, customers will need to login to the bank’s mobile banking app – PrimeMobi, then click on the International Money Transfer icon on the home screen. After confirming the amount to be sent, the sender’s bank account will be debited and money credited to the beneficiary instantly.

Transfers can also be sent from M-Pesa using a dedicated SimbaPay @ Prime Bank pay bill number.