Chase Bank Partners with Safaricom in Mobile2Bank Service

By / October 30, 2015



Chase-Bank

Chase bank has partnered with Safaricom to enhance its mobile money transactions and help their customers conduct business more efficiently. The platform dubbed ‘Mobile2Bank’ is a mobile business service that will allow Chase Bank customers to collect, pay as well as borrow money and buy agency float instantly from their bank account.

To use the Mobile2Bank service, one has to open a Chase Bank account after which he or she will be issued with a paybill or a Lipa na M-pesa. After that one can download the Mfukoni App or simply dial *275# to self-register.

As a business, one can collect money directly into the bank account in real time where the mobile money collection pay bills or tills, adding to the existing and collection mediums currently in place.

One can also make payments without any hassle. Through Mobile2Bank, a business can make payment to another business directly from their bank accounts to:

  1. Another business Lipan a M-PESA
  2. Another business Lipa na M-PESA Buy Goods Till
  3. A business account number at any other bank for at most half the current price it costs via RTGs today.

One will also be able to access loans through Mobile2Bank. With a business that pays and collects through Mobile2Bank, one can be able to apply for an instant unsecured Biashara Loan facility.

And lastly, one can be able to buy Agent Float. With Mobile2Bank, one is able to buy floa directly from his or her bank account.

Mobile2Bank
Chase Bank’s Chief Executive Officer Paul Njaga (right) and and Safaricom’s Chief Executive Officer, Bob Collymore signing the partnership deal to mark the launch of Mobile2Bank. The mobile solution, Mobile2Bank is the first of its kind in Kenya and allows businesses to make payments and collections directly to their bank accounts.




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