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Rwanda : Mobile banking, mode of payment at Kigali coffee shops

1 August, at 06 : 23 AM Print

 

A banner of Bank of Kigali showing how to pay using mobile money at MAGDA Coffee Shop

A banner of Bank of Kigali showing how to pay using mobile money at MAGDA Coffee Shop

Rwanda is ranked among the first 10 countries with rapidly increasing use of mobile money. You can now pay for a meal in some coffee shops, pay electricity bills, buy airtime and DSTV bills or transfer money from your account.

Averagely with mobile banking the cost of checking balance is about 50Rwf and about 300 for money transfer.

Local banks have tuned to mobile banking too in a bid to increase service delivery and reduce cost as competition has stiffened. All the five major commercial banks of Rwanda, BCR, BK, KCB, Ecobank, BPR have incorporated mobile banking into their systems of banking.

Mobile banking is of great advantage since it eases service delivery while cutting costs of financial transactions and setting up more branches. It also improves saving culture since some people will own mobile phones without a bank account.

Bank of Kigali now has over 60,000 of its customers using mobile banking services performing nearly one million transactions through the platform.

Mobile penetration in Rwanda is currently estimated at 44% according to Rwanda Utility Regulatory Agency’s statistics of June 2012 and projections are that it will be 60percent by end of 2012.

 

 

 

 

 

 

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2 Comments


  1. Tim, 4 years ago Reply

    Things are getting better


  2. problem sweating, 4 years ago Reply

    It’s exciting to come across an individual with a writing technique like you. Frustrating to discover these days on the world wide web.


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