An up***d trend has been noticed in the use of the Equitel mobile transfer platform with the volume of mobile commerce transactions that were processed growing by 21 per cent in the first three months of this year. This contributed to the growth of EazzyPay mobile money payment service, which saw its usage increase by 10 per cent over the same period.
Data from the Communications Aut**rity of Kenya’s (CAK) for the period running January to March 2017 s**ws that Equitel processed 37.38 m***ion transactions worth Ksh189 b***ion up from 30 m***ion transactions valued at Ksh171 b***ion recorded in the previous quarter.
Overall Equitel accounted for 30 per cent or Ksh189 b***ion of the Ksh627 b***ion that was transacted in the form of mobile commerce payments.
Also See: Kenyans moved Sh1.2 trillion in three months
Equitel has targeted to register not less than one m***ion businesses through its EazzyPay service within the next two years, a key strategic ****ar for Equity Bank’s digital banking strategy that was launched in late 2016.
Additionally, there were gains in the subscription base which stood at 1.7 m***ion subscribers as at the end of March 2017, up from 1.49 m***ion subscribers as at December last year, translating to a 15.4 per cent increase. Even t**ugh, the increase in subscriptions did not translate to an increase in the volume of voice and data which instead declined as compared to the previous quarter.
Equitel, which was launched in July 2015, now accounts for 23 per cent of the Ksh1.1. tr***ion that was moved in the economy through mobile money services in the third quarter.
EazzyPay merchants are also able to receive payments from all other channels such as Mpesa, Airtel money and Pesalink.
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