yuCash, the mobile money service of yuMobile, has entered into an agreement with Cooperative Bank that will enable its subscribers transfer money to any Cooperative Bank account through their registered yuCash lines.
The partnership is expected to extend convenience for individuals and small businesses who rely on both yuCash and Co-operative Bank for financial transactions.
Commenting on the partnership, yu Mobile’s Country Manager, Mr. Madhur Taneja said:
“This agreement is part of the company’s commitment to deliver innovative mobile banking and payments services that meet our customer expectations,” said Mr. Taneja.
Cooperative Bank Head of Corporate and Institutional Banking Mr. Tom Kariuki, said the service will encourage customers to save into their bank accounts and benefit from value added services of both yuCash and and CooperativeBank account.
“We have linked both yuCash and Cooperative Bank systems to allow for building of credit reports which form a key consideration in the credit application process,” said Mr. Kariuki.
All one has to do to transfer money to any Co-operative bank account number is to, simply send the relevant amount to the yuCash Bill Payment No. 100200, and specify the Coopbank Account No in the yuCash Message field. They will receive a confirmation via SMS from yuCash as well as Coopbank within seconds, and the account is credited immediately.
Taneja added that this is one of the many services that yuCash will continue to roll out in its continued effort towards delivery universal access to financial services.
yuCash gives subscribers five channels through which they can transact, including the internet (WAP), SMS, Voice, USSD as well as the now commonly used SIM Tool Kit.
–Press Release