The service will allow the bank’s customers to transfer money and purchase goods from their mobile bank accounts.
Available all throughout the country, users need to register an account at a BAI agent, and then activate it using an Interactive Voice Server (IVR), enabling them to make payments via traders registered on the bank’s servers.
All currency processing is guaranteed by the BAI, with the bank also handling security and compliance of all financial transactions.
The e-Kwanza service will enable customers in the underbanked nation to have access to banking services offered in many other African countries via mobile phones.
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