LemFi has received additional approval from the Central Bank of Kenya (CBK) to operate remittances in Kenya. The remittance services will be offered in partnership with Kenyan fintech Flex Money Transfer.
LemFi is a cross-border payment solution that enables the diaspora community to send and receive money back home. The fintech which entered the Kenyan market in June last year said in a statement that the approval demonstrates its commitment to providing secure and efficient services by partnering with trusted local partners while complying with the set regulatory framework by the CBK.
Kenyans in the United Kingdom, the United States of America, and Canada can send money within minutes directly to M-PESA, Mobile Money, and Bank Accounts at the best exchange rates—all at zero transfer fees.
The LemFi app also provides a Kenya Shillings wallet setup which customers can open and fund their accounts via mobile money. Once they open the account, the customer can easily change their Kenya Shillings to other currencies like USD, GBP and CAD depending on their transactions.
Customers can download the app from the Apple AppStore or Google Play Store or by visiting www.lemfi.com.