The Angolan Investment Bank (BAI) has launched a new mobile payment service called e-Kwanza.
The service will allow the bank’s customers to transfer money and purchase goods from their mobile bank accounts, eliminating the need to carry cash.
Available anywhere in the country, all users need to do is register an account at a BAI agent, then activate it using an Interactive Voice Server (IVR), allowing 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 allow customers in the underbanked nation to enjoy banking services offered in many other African countries via mobile phones.
