This archive report was first published on 24 October 2019.
On October 24, 2019, Equitel attributed a 16 percent growth in commercial mobile money transactions to the aggressive signing up of retailers and online merchants.
According to data from the Communications Authority, the Equity Group platform saw its mobile money commerce transactions increase to 101 million as of June 2019, up from 87 million in the same period the previous year.
The value of mobile commerce transactions increased to Sh378.9 billion, a 15 percent increase from Sh328 billion processed over the same period in 2018.
Equitel's chief executive, James Mwangi, attributed the growth to the digitization of retail commerce operations through the enrollment of retail shops to transact through EazzyPay.
"Our effort to digitise retail commerce operations through enrolling retail shops to transact through EazzyPay has paid off," said Mr. Mwangi.
Equitel processed over 156 million transactions as of June 2019, valued at Sh469.9 billion, compared to 140 million at the same period the previous year, valued at Sh413.4 billion.
