The latest financial service App, integrated with social and lifestyle features, complete with its own keyboard, has been up and running for well over three weeks now. In the course of the almost one month period, this new App has sparked interest among Kenyans, specifically for its financial services, and most importantly for its ability to also lend soft loans to the millions of mobile phone users. Those of you who are hearing of the mKey Keyboard for the first time, I urge you to head to our introductory article on the App, or better still get an in depth understanding by going through the comprehensive review of how the app works.
In a nutshell, and as explained at the App’s page over at Google Play Store, we are told that “the mKey is a keyboard but not like the one you are used to.” That is, and as we explained via this YouTube video, the mKey keyboard “allows you to do everything from paying your utility bills to hilariously punctuating your conversations.”, and it is the part where you can use the mKey App or the mKey keyboard to pay bills, send money, buy airtime, buy goods and most importantly get loans that’s the subject of today’s article.
The one thing that I must emphasize is that for you to use the mKey keyboard, you first of all need to enable the keyboard at the Settings, Language and Input, and that’s if you skipped that step after you installed the App from the Google Play store. Once done, all you will need to do whenever you are using the Keyboard is to press at the mKey logo at the top right of the keyboard, and immediately the keyboard will transform to mKey App interface. From this interface you will be able to access the mKey financial features, and one of the features is where you will be able to pay your bills.
If you are not on the keyboard, or you are not using an App that requires you to be on the keyboard, you can still be able to pay your bills by going to your App drawer, opening the mKey App, tapping at the Pay Bills icon at the top of the first interface. This process will then require you to input your PIN, take you to the financial services interface from where you tap Transact and Borrow, then get to do any of the financial transactions listed.
One beautiful thing with the mKey App or mKey Keyboard is that you really do not need to remember the bill number of the business you want to pay bills to. This is because the App already has in its database thousands upon thousands of businesses already listed, and these include the big businesses like Kenya Power, Jumia Kenya, Zuku, DStv that almost everyone pays bills, to small individual businesses that you and I have never heard of. Once you are at the pay bill interface, the only thing you will need to do is to search for the businesses name, enter account number, then pay the bill.
The same procedure is applicable when you want to deposit cash in someone’s bank account. In this second scenario, instead of choosing Pay Bill, you will choose send to bank. These options are available at the Transact and Borrow interface of the financial services.
Getting a loan from mKey keyboard (or App) is not any different. The only thing is that after you have installed the app for the first time, your loan limit will be zero shillings, so you won’t be able to get any loan. However, once you deposit some money into the mKey wallet, something you can do by getting the money from MPESA, Equitel, Eazzy Banking or by giving cash to an Equity Agent, use that money to pay bills, send to others, buy goods and basically do the other financial transactions. The more you transact financially using the mKey Keyboard, the more your credit worthiness improves, and that’s how you create and increase your loan limit.
And it’s not the loans that’s the only benefit you would get from regularly transacting via mKey keyboard. The keyboard also comes with a reward system which I will talk more about in my next article about the mKey App. Stay tuned.