ZAMBIA’S FINANCE BANK AND CELPAY LAUNCH NATIONWIDE PAYMENT SERVICE

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Finace Bank and Celpay last week launched nationwide phone and internet banking facilities. The service is aimed at enabling business or consumers to transfer money across the country instantly. "Firms that distribute across the country can now use Celpay to effect transfers instantly to their head office, greatly simplifying account reconciliation and speeding the time that it takes to bank their money," Zambia Bottlers is one of the firms that has been using the service with Celpay since 2002.

The statement further stated that consumers would now be able to pay utility bills at convenient pay points located almost wherever there was cellular network coverage and a Finance Bank branch. "The pay points can deposit funds at Finance Bank, and then transfer this money to the utility instantly when consumers bring cash to pay their bills," read the statement. Using this facility, consumers would be able to see their balance whenever transaction takes place as well as view recent transactions on their phone screen. Celpay managing director Stephen Wunker said Finance Bank’s extensive branch network and drive to innovate would ensure that Celpay would extend its services throughout Zambia.

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