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Visa is planning to extend its services in Rwanda by introducing its mVisa solution to three more local banks in the country next year.
The service, which is currently being offered by two Rwandan banks, is set to be introduced at KCB Bank Rwanda, Equity Bank and I&M Bank in the first quarter of 2014, reports the New Times.
HumanIPO reported in August the Bank of Kigali had launched the mVisa mobile solution, allowing customers access to a wide range of financial transactions.
Speaking at the launch Ginger Baker, the director of Visa in Rwanda, said: “KCB Rwanda will enhance its current Iwacu agent banking programme by adding the interoperable mVisa function to its customers and agent accounts.
“Equity Bank will continue to provide access points for customers and will avail its agent network to the mVisa ecosystem in the coming months.”
Claver Gatete, the minister of finance in the country, said, “Platforms like mVisa support our progress by providing access to electronic financial services which helps break barriers including the lack of access to physical bank branches.
“Mobile banking systems are essential for sustainable economic growth since they increase access to financial services especially in rural areas where there is low penetration of financial institutions as well as enhancing a cashless economy which is the government’s target.”
He said there is need for people and businesses to come up with initiatives that promote the use of mobile devices.