Barclays launches ‘Hello Money’ in Kenya

0
6304

After launching ‘Hello Money’ in India in Q2 2008 Barclays is now launching the service in Kenya with Safaricom.

Barclays claim the service ‘breaks away from the traditional methods of mobile banking and takes consumer banking services to the next level of convenience’.

Barclays customers can now perform account enquiries and financial transactions by simply dialling *598*1#. They can carry out secure banking transactions like fund transfers, bill payments, requests and other banking services without visiting a branch or ATMs. Upon dialling *598*1#, customers will be guided to the mobile-based menu where they will be able to choose from a number of options and, after they enter the correct Hello Money PIN, they can immediately perform their required transaction on their handsets.

Existing mobile banking propositions in the market involve several steps such as application downloads, remembering SMS codes, and all sorts of numbers and formats that make it inconvenient to use. Also, the costs for using the services are high as customers are charged for SMS or GPRS subscription every time they use the service. This has posed several hurdles in early adoption of mobile banking and spread of banking services across geographies.

Barclays Hello Money offers a comprehensive array of banking services on a user-friendly platform that is also upgradable into other efficient m-commerce services.

‘Barclays has a successful track record in offering various models of mobile banking services in some areas around the globe. Mobile banking is proving to be a groundbreaking initiative which has already started to show great results,’ says Ahmed Khizer Khan, CEO, emerging markets, Barclays GRCB.

‘Easy access to banking has positive transformational effects as it opens up the financial system to formerly excluded segments of the population. This is the kind of change we aim to create in all emerging markets where financial inclusion is at the heart of our business strategy.’