Payments News

On The Web

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Global

Kenya starts review of microfinance banking law

“Kenya has started review of the law on microfinance banking as it seeks to increase their role in providing financial services especially to the increasing number of small and medium scale enterprises, the Central Bank of Kenya (CBK) has said.”
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Global

Kenya won’t force a spin-off of the world’s leading mobile money service after all

“Almost exactly a year ago, a report from an independent consultant to Kenya’s telecoms regulator, sparked uproar and panic. It recommended the government look into breaking up the dominant mobile operator Safaricom by spinning off the even more dominant mobile money service, M-Pesa. Now, the global consulting firm that made that controversial recommendation seems to have […]
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Companies

Mastercard tests pay as you go for solar energy in Africa

“Solar energy is the key to getting power to many parts of Africa, but it is expensive to implement and often difficult for individuals to purchase. So global payments firm Mastercard has teamed up with solar energy company M-KOPA Solar, banks, and mobile network operators to enable payments and commerce for people who don’t have access to banks. […]
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Global

Docomo Digital partners with Safaricom to launch Google Play purchases via M-Pesa

“Docomo Digital has partnered with Safaricom to give customers the option to pay for content on the Google Play Store using M-Pesa, according to a press release. The integration, which is powered by Docomo Digital’s mobile commerce enabling platform using Google Play’s payment API, enables M-Pesa customers to use the mobile money service to pay for goods and […]
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Global

Barclays Bank Kenya unveils Timiza Mobile Money

“Barclays Bank Kenya has unveiled a digital platform known as Timiza – through which customers can access loans, save money, pay for services like an insurance premium, water, buy goods or any other product provided by the bank instantly.”
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Global

One of the world’s biggest mobile money services wants to become a social network

“The messaging service, known as Bonga (which means “to chat” in colloquial Swahili), was partially-launched on April 26, in closed beta testing for select users on Android devices, according to documents seen by Quartz. The app will allow users to review their balance on M-Pesa, besides letting customers transact money without leaving the platform. The service […]
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Domains

Interoperability lifts Equitel’s growth to Sh711bn value of transactions

“Equity Bank’s mobile money platform Equitel rode on interoperability to grow, processing transactions worth Sh711.5 billion in the three months to December up from Sh650.3 billion in the previous quarter. The value of Equitel’s transactions was Sh350.5 billion, Sh258.9 million for its mobile e-commerce while person-to-person transfer on the platform amounted to Sh102 billion, according […]
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Domains

Mobile commerce transactions in Kenya surpass Sh1trn

“According to the Communications Authority of Kenya (CA), transactions hit Sh1.17trn ($11.6bn) in the second quarter of 2017/18, up 64% from the previous quarter’s recording of Sh714bn (US$7bn). The nation was able to reach the trillion mark despite mobile commerce transactions falling from 352mn in the first quarter to 308mn in the second quarter. “A total […]
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Global

How payments ecosystem has evolved in Kenya

“In Kenya today, a consumer wants to swipe to pay at a clothing store, pay via mobile money at the grocery store, write a cheque for school fees, and pay cash at the fuel station. This highlights the changing dynamics witnessed in the payments industry in Kenya and around the globe, with consumers and businesses […]