Money transfers - In Brief
The Angolan Investment Bank (BAI) deployed the country’s first electronic money transfer and mobile phone-based payment service in early January, available nationwide via the Swiss-built Inntrans mobile payment system and offered under the bank’s own ‘E-Kwanza BAI’ brand, Agence Ecofin reports. Inntrans / E-Kwanza BAI allows users to transfer money domestically and to make secure electronic payments to licensed traders. Mobile phone users of both Angolan mobile network operators – Unitel and Movicel – can register for the mobile money service for free with an accredited agent. The conversion of cash into electronic money and vice versa is being provided by the BAI’s branches.