Equity Group’s mobile money platform registered fast growth in the first three months of 2016, latest data from the industry regulator shows
Third quarter statistics from the Communications Authority shows that the value of transactions processed through Equitel increased by 38 per cent between January and March 2016.
Equitel processed transactions worth Ksh62.4 billion in the first quarter of the year, representing a 38 per cent increase from Ksh45.39 billion processed in the preceding quarter.
The number of transactions stood at 44.7 million, up from 42.7 million over the same period.
Equitel through the “Eazzy Loan Plus” product lends borrowers up to Sh3 million repayable over a 12-month period.
Equitel is available to all Equity Bank account holders and provides a perfect means to enjoy control and freedom of choice. Those who are not members can easily open an Equity Account Hapo Hapo by dialing *247# on their mobile phone.
The mobile banking service enables users to not only securely send and receive money within the network but also from other banks and mobile money platforms such as Airtel Money, Orange Money and MPESA. Sending money from one Equitel line to another is free.