NationHela is an international money transfer service lunched today by Nation Media Group. NationHela, was inspired by the source of traffic to the Nation website. Nation has been analyzing the hits on the website Nation.co.ke, which they say has over 30 million hits per month and they found out that a half of the hits are coming from Kenyans on the diaspora. With the need to diversify their business portfolio, Nation decided that it would be a great idea to tap into the diaspora remittance to Kenya. According to centralbank.go.ke, in the year to June 2012, total remittances inflow stood at US$ 596.2 million, 46.7 percentage higher than the total remittances of US$ 406.5 million in the year to June 2011. That is huge, in terms of Kenya Shilling 50,021,176,361.08
Nation Media Group has decided to partner with Diamond Trust Bank to avoid the regulatory issues with banking sector. In this case, DTB will be the collecting Bank for the NationHela accounts , where it will serve as an intermediary to collect payments from the Money senders.
The card is normal visa card, whereby you can do normal banking transactions in Kenya. To have it the user has to open an account with Diamond Trust Bank. From there, users can deposit money to the card through the mobile money or direct deposit from Diamond Trust Bank. To check the balance, the users have the options of checking through mobile phone, through online and through ATM or the Bank counter.
When using the MPESA, to tranfer money from the Mobile phone to the card, the charges is the same as the MPESA rates of transferring Money. So if you are loading Ksh.1000, for example , you are charged, Ksh.30. As for transferring money from abroad, the charges according to Nation Media Group is 30% cheaper than the other Money Transfer Service. If you are sending $.200, you are charged, $12.5 and with a better exchange rates.
I like the MPESA to the card, transfer rates. Currently the other card in the market which has some of the functions is the I&M Safari Card. To load Safari card through MPESA, you are charged Ksh.125 . That is far more expensive than what the NationHela card is proposing.
The Card Mobile connection.
NationHela card is connected to the user mobile number. The card is linked to the user mobile phone number.. Meaning you have to use one specific number. You can use the mobile to switch the card on and off. You can active the NationHela through MPESA and Airtel Money.
Transferring the money from the Paypal to the NationHela Card .
The user can use the card to do the online transaction like any other Visa card. One very interesting fact is that you can transfer Money from Paypal to the card. I am not sure of this but Nation Media Group is saying that is working and If so this could be what many have been waiting for.
Where to get the card:
For the start the cards will be available Diamond Trust Bank Branches, and leading supermarkets across Kenya. Nation Media Group is working to have NationHela Agent outlets across the country
Online Usage and Transaction
- username -which is user mobile number or the 16-digit card number
- Password – which is sent to the user during activation of the card for the first time