STANCHART TANZANIA INTRODUCES DIRECT BULK MOBILE PAYMENT SERVICE FOR CORPORATE CLIENTS

Customers access mobile money transfer services from Tigo Pesa, M-Pesa and Airtel Money agents at Dar es Salaam’s Tabata Relini area. With a single transaction at Standard Chartered Bank, you are assured of making payments to hundreds or thousands of beneficiaries of your money via mobile phone money transfer services.

Dar es Salaam. Corporate bodies that bank with Standard Chartered Bank can now find it increasingly easy to pay various people instantly, thanks to the bank’s new service.

The bank yesterday launched its “Straight2Bank Wallet” – a new mobile payment service that allows corporate clients to instantly make bulk payments directly from their Standard Chartered Bank accounts into their beneficiaries’ M-Pesa and TigoPesa accounts.

The service applies to corporate clients such as development organisations, insurance companies, commodity traders and fast-moving consumer goods (FMCG) companies.

With the Straight2Bank Wallet, the clients can make payments to both banked and unbanked individuals such as aid workers, policy holders, staff members and farmers through their M-Pesa or TigoPesa mobile wallets.

Straight2Bank Wallet is secured with the use of special security tokens that are part of the Bank’s Straight2Bank platform. The end-to-end automated process removes the need for manual intervention, which provides efficiency, scalability and reduced error rate. Transactions are done as per the clients’ instructions and can be done at anytime, anywhere. Future payment transactions can also be set in advance, offering corporate clients the flexibility and allowing them the time to focus instead on their growth ambitions.

The bank’s chief executive officer Ms Liz Lloyd said the service seeks to streamline the payment process to its clients.

“With over thirty million registered mobile money accounts, the introduction of Straight2Bank Wallet will streamline the payment process for our corporate clients across the country,” she said.

And according to the head of the Transaction Banking Unit at Standard Chartered Bank Tanzania, the service also allows for simultaneous payments to be made via one payment instruction, and clients can instantly disburse funds to their beneficiaries, wherever they are in the country.

The Citizen