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Kenya’s Fintech Startup, Chura Redefines Mobile Money


Startup Feature

Kenya’s Fintech Startup, Chura Redefines Mobile Money

Nearly a decade after the launch of M-Pesa, a transformative mobile phone-based platform for money transfer and financial services has transformed the economy of Kenya.  Its success has reshaped Kenya’s banking and telecom sectors, extended financial inclusion for nearly 20 million Kenyans, and facilitated the creation of thousands of small businesses including the creation of Fintech companies whose services are pegged on the M-PESA platform.

One company that has capitalized on this development is Chura Kenya which is a Fintech startup that allows you to transfer money from your PayPal account to your M-Pesa in real-time. They also allow users to top up their PayPal accounts using M-Pesa instantly.

In addition, Chura gives you access to your PayPal account directly from their secure website. Once you have logged in, you’ll be able to verify your phone number which is registered to M-Pesa. The verification is an easy free process through SMS notification and linked directly to their system. Once inside, you can start transactions between your PayPal account and your M-Pesa account. And it provides a flexible and convenient process for small businesses that are involved in importing of products to execute without a hustle. On top of it all, one is able to know beforehand how much cash they will receive in either end (both in USD & KES) before the transaction takes place. Like a magic charm, you will get to receive the cash instantly and real-time.

Chura will charge you a commission of 6.5% of the total amount to be transferred plus USD 2.

In addition to these services, Chura Kenya allows an organization to also purchase and top up mass airtime across all networks for their team as opposed to using the tiring process of manual top-ups. This allows you to manage and track usage hence organization expenses are controlled from one point.

Virtual Debit Card

Just recently, Chura added another product by the name of “Chura Virtual Card” which is built on the M-Pesa platform and users can shop online with it. It serves as a debit card on mobile phones. The virtual card provides an efficient means of payment since it is accepted by some of the biggest brands online including Uber, Amazon, Netflix, Go Daddy, Google Play, Facebook, and even Twitter.

The team of 5 are not just breaking barriers but proving meaningful exchange…in that they also have a line of services soon to be launched including “Chura remit” which will enable credit/debit card holders to send money to Mpesa.

They call it a world of freedom without boundaries, more added value to your M-Pesa transactions.

Visit the company website here.

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