Nigeria-based United Bank of Africa (UBA) has partnered with Visa to roll out SmartMoney service, which comprises a prepaid card and a mobile app, in Kenya.
The banking solution, which targets the young generation, will allow users to make purchases, perform online transactions and withdraw cash from ATMs.
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The app, which has been rolled out in Nigeria, Ghana and Kenya, also allow users to check card balances, track and budget their expenses or send and receive funds between SmartMoney cardholders.
The bank also plans to launch SmartMoney service in other African markets this year.
UBA Africa deputy managing director and CEO Kennedy Uzoka said: "The SmartMoney prepaid card allows young people to enjoy all the features of a bank account and the minimal costs associated with the prepaid card are a massive plus."
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By GlobalData
