Cytonn FinTech, a subsidiary of Cytonn Investments last week launched a first of its kind digital wallet that replaces your ordinary wallet, dubbed ‘Cytonn Wallet’. Cytonn Wallet is powered by the Cytonn Money Market Fund where you stand to earn up to 11% P.A
According to Edwin H. Dande, Chief Executive Officer at Cytonn Investments, the company is in the business of identifying client needs and offering effective and efficient solutions and Cytonn Wallet is one of the firm’s solution.
What makes it unique are the instant features such as Instant2MyMpesa enables instant transfer from Cytonn Money Market Fund, CMMF, to your MPesa, Instant2MyBank, Instant2PayBills, Instant2TransferUnits Instant2SendMoney, Instant2Invest and most importantly you stand to earn up to 11% P.A.”
“The world has changed dramatically over the last couple of months. Businesses will evolve and emerge from the COVID-19 crisis in different and profound ways. This will translate into an even greater need for digital platforms to carry out transactions. We have seen an increased demand for solutions that can help individuals and small businesses weather the crisis,”Mr. Dande said.
“.People want fast, easy-to-use, safe, and seamless payment and investment experiences. This is where the Cytonn Wallet comes in. Digital wallets allow users to safely pay bills, worry-free, and with no hassle. The numbers don’t lie–the digital wallet is the future of digital transactions and the Cytonn Wallet is at the forefront of this movement. The widespread adoption of the Cytonn Wallet isn’t a question of if, but when,” Mr. Dande added.
Customers can access or open a Cytonn Wallet through USSD code *809# or by downloading the Cytonn app on play store.
“The Cytonn Wallet allows all our Money Market Fund clients to earn an attractive rate of return, access instant liquidity when needed to M-PESA or their bank accounts via PesaLink, pay bills directly from their Cytonn Money Market Fund Account by redeeming units, and transfer units between unitholders in the Cytonn Money Market Fund i.e. Instant2Transfer. We have now embarked on other value-added services such as a CMMF linked debit card and a lending facility to offer more value to our growing number of clients” Daniel Mainye, Senior Manager Fintech, Brand and Innovation at Cytonn Investments said.
Cytonn Money Market Fund clients will now be able to withdraw to M-PESA or Bank (via PesaLink) instantly 24/7 with a daily limit of Kshs. 300,000, as well as send money from their Cytonn Wallet to another M-PESA number or Bank account that does not belong to them instantly 24/7. The Cytonn Money Market Fund is a low-risk fund that seeks to obtain a high level of current income while protecting investor’s capital and liquidity.