Equity Bank in Kenya announced the introduction of a new money transfer program that will allow customers to transfer money using their Visa cards without charging the recipient, CapitalFM reports. This transfer fund scheme is unlike other services in the country that often charge recipients to access funds. The new transfer service is called "Visa Personal Payments," and users will be allowed to transfer funds to others both domestically and internationally.
Julius Kipng'etich, CEO at Equity Bank, said, "Equity Bank is the first bank in Africa to offer the Visa Personal Payments sending capability. The new service will give customers more value and will help promote social economic prosperity of the people of Africa. Senders can use Visa Personal Payments to make person-to-person payments, send funds to friends or family members or make account transfers."