The previously tedious application process that largely depended on the financial status of the applier is ending. The mobile banking service allows people to deposit and withdraw money using their mobile handset.

Also, they can send and receive money instantly. The money received can be withdrawn at any place and any time in over 5,000 agents countrywide at a small fee. Known as M-pesa, the service is offered by local telecom provider Safaricon.

In addition, the user can also withdraw their money in other banks’ ATMs. When making deposits there is no money deduction and your deposit does not have deadlines.

With over 8 million mobile subscribers in Kenya, mobile banking is expected to become more and more popular. More is still to come as the service is said to be working on an international version.