NALA, a fintech startup that powers quick remittances from the UK and US to Africa, has launched a new feature that allows Kenyans in the diaspora to pay local bills in their home country.
This new feature combines mobile payments and international remittances, which are traditionally separated, into one solution, thereby opening a new perspective to the interplay of financial technology services in Africa.
While most local and global remittance players (Wise, Remitly, SendSprint, etc) enable international transfers, their users cannot make local payments from their locations abroad, resulting in a business model that denies users substantial control over spending.
The diaspora senders didn’t have the flexibility and full control over the remittances they made to Africa.
However, with this new feature, Kenyans in diaspora can as much as pay a family member’s tuition in their local currency.
The new development follows the startup’s partnership with Equity Bank Kenya in July this year, to facilitate diaspora remittances into Kenya.
The two companies said the partnership will allow Kenyans living in the United Kingdom and United States send money directly from their banks, through the NALA app, instantly to Equity Bank Kenya accounts and other mobile wallets.
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