Cytonn investment has introduced a digital wallet that will allow customers make direct transactions from customer to another customer, customer to bank, customer to MPESA and a Paybill option to manage online transactions without a hustle.
The e-wallet option is powered by Cytonn’s money market fund and is touted to earn customer’s interest of up to 11 percent when they invest in the fund.
Speaking on the launch, Edwin H. Dande, Chief Executive Officer at Cytonn Investments said the money market firm was in the process of identifying client needs and offering effective and efficient solutions to them. He added the digital wallet solution will complement existing options to allow for instant features such as Instant2MyMpesa, Instant2MyBank, Instant2PayBills, Instant2TransferUnits Instant2SendMoney, Instant2Invest and most importantly earns customers interest of up to 11% P.A.
Instant2MyMpesa feature allows customers to transfer money instantly from Cytonn Money Market Fund (CMMF) to MPesa and Instant2MyBank allows direct transfer from Cytonn’s money market to their bank accounts.
Through Instant2PayBills, Cytonn customers will be able to instantly pay for their bills as well as utilities while Instant2TransferUnits will enable the transfer of units from customer’s CMMF to another member of CMMF
On the other hand, Instant2SendMoney will empower customer to send money from Cytonn money market fund (CMMF) to any bank account or Mpesa number and Instant2Invest will allow the transfer of investments into and out of our CMMF account.
How to access Cytonn money market fund (CMMF) e-wallet
Customers can access both by using the official Cytonn application downloadable from both the Play Store and App Store or by a USSD Code.
- On your phone, dial USSD code *809# where,
- You can create an account, request a call or opt for more information on products
- Download and install Cytonn app on play store.
Customers will then be able to withdraw their cash to M-Pesa or Bank (via PesaLink) with a daily limit of Ksh300,000, and send money from their wallet to another M-Pesa number or Bank account that does not belong to them, instantly.
The Cytonn Money Market Fund is one of local established low-risk investment alternatives that aims to maintain a high level of current income while protecting investor’s capital and liquidity.
Speaking on the same, Cytonn Investment Senior Manager Fintech, Brand and Innovation said the company had embarked on alternative value-added services such as a CMMF linked debit card and a lending facility to offer more value to the growing number of clients.