Companies and institutions have always been stuck when it comes to matters that concern dealing with huge chunks of money. This is because money tends to be very delicate and if not well handled, may end up in the wrong hands.
Every organization looks out for a friend who will help them come up with the best ways of dealing with transfer or collection of these funds when moving from one place to another.
That friend happens to be the Co-operative Bank of Kenya (Co-op Bank), through their mobile-based collection platform (M-Collection) that allows registered mobile money customers to deposit payments directly to their accounts.
M-Collection services have been designed to provide institutions with collection accounts at Co-op Bank with the ability to conveniently receive mobile money payments from their customers’ Telcos wallets (M-Pesa, Airtel Money or T-Kash).
Co-op Bank has a number of target markets who can benefit from the service and they include the following: