Yu Mobile has partnered with Postbank to have Yu Mobile subscribers register, deposit and withdraw money from their Yu Cash accounts from any Postbank branch country wide.
Speaking at the launch of the partnership, Madhur Taneja –Yu Mobile Country Manager said, “It is a big void we had in terms of having a successful bank, which offers great service, to be able to also offer Yu Cash services, this is getting fulfilled today.”
As reported in GBS, about 600 agents stand to benefit greatly out of the partnership as they will be recruited and diploid to different outlets and branches all over the country to aid in the offering of the service.
Statistics from the Communications Commission of Kenya (CCK) show that as at 31st March 2012, there were 18.987 million mobile money transfer subscriptions. Yu Mobile aims to increase its Yu Cash users from the current 800,000.
Yu Cash is the only mobile money transfer service in Kenya that allows users to send money to other users for free.
In a similar move, Airtel Kenya recently expanded its Airtel Money services to Posta outlets across the country allowing users to send, receive and withdraw money using Airtel Money from any of the 465 Posta outlets across the Kenya.