Hotline +254 763 063 000
Hotline +254 763 063 000
Nairobi, 17th October 2019….Equitel has recorded a 16% growth in the number of mobile money commerce transactions, according to the latest data from the Communications Authority (CA). The MVNO saw its mobile money commerce transactions increase to 101 million as at the end of June 2019, up from 87 million in the same period last year.
At the same time, the value of mobile commerce transactions increased to Ksh378.9 billion, a 15 % increase from Ksh328 billion that was processed over the same period in 2018.
The operator’s continued growth in mobile commerce payments has been driven by the aggressive signing up of leading retailers and online merchants and an increase in the number of Equity Agents. Currently, Equity Bank has 20,185 merchants and 38,200 agents countrywide, offering e-commerce service to both customers and merchants at no cost.
“Our effort to digitize retail commerce operations through enrolling retail shops to transact through EazzyPay has paid off. The number of EazzyPay transactions has grown suggesting the size of transactions are increasing and the country is accepting the risk of digital money,” said Equity Group CEO and Managing Director Dr. James Mwangi.
Equitel processed over 156 million transactions as at the end of June 2019 valued at Kshs469.9 billion, compared to 140 million at the same period last year, valued at Ksh413.4 billion.
Equitel’s person-to-person transfers grew by 8% to Kshs126.5 billion up from Kshs117 billion, accounting for 16% of the total Kshs770.9 billion transferred in June 2019. Total deposits stood at Kshs81 billion in the same period, accounting for 12% of the overall Kshs669.3 billion deposited across all mobile payment platforms.
Noted Dr Mwangi, “Our customers are digitizing their money. Once the money is deposited on their mobile phones, they are not withdrawing but transacting with it on a digital platform and that to us is the best change we are seeing in the overall market.”
Overall, the number of active mobile money subscriptions in the country according to the CA report, stood at 32.5 million as at the end of June 2019, compared to 29.7 million as at June 2018 translating to a 10% increase, while the value of transactions increased by 11% per cent to stand at Kshs2.18 trillion from Kshs1.92 trillion.
Equitel’s subscription base as at June 2019 was 1.88 million, accounting for 3.6% of the market share.
Equitel, which was launched in July 2015, accounted for 22% or Kshs469.9 billion of the Kshs2.1 trillion that was transacted in mobile money as at the end of June 2019.
Equity has been ranked as the 2nd topmost valuable brand in Kenya, according to Brand Finance, an...
View MoreNairobi, 1
Nairobi 25th November 2020… Equity has announced the appointment of Samuel Onyango as a...
View MoreFor the third consecutive year, Equity has won the 2020 SME Bank of the year - Africa Award at the...
View MoreThe second consignment of PPEs for public hospitals is valued at Ksh 125M with an additional...
View MoreProf. Waema brings on board his extensive ICT experience that spans over 30 years in both private...
View MoreEquity, with a balance sheet size worth Kshs. 673.7 billion at the end of 2019, has been listed at...
View MoreThe Kenya National Chamber of Commerce and Industry (KNCCI) and...
View MoreMSE Associations under MSEA will benefit from financial empowerment, advisory services and...
View MoreEquity Supports MSMEs With USD $100 Million Partnership with Proparco (Agence Française de...
View MoreNairobi, Kenya: September 9, 2020 – Dr. James Mwangi, Group Managing Director and CEO of Equity...
View More92 Equity Leadership Program (ELP) Scholars Receive Admission to 43 Global Universities
View MoreEquity Bank (Kenya) Ltd Board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over...
View MoreThe 0763 000 000 number will become the single line of contact from Equity to customers thus...
View MoreThe Kenya Covid-19 Fund Board, in partnership with Equity Group Foundation (EGF) have completed...
View MoreEquity has signed a Memorandum of Understanding with Crown Healthcare to enable SMEs in the...
View MoreNairobi, 28th July 2020… Equity has scooped three top awards at this year’s Euromoney Awards...
View MoreThe loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing,...
View MoreThe Kenya COVID-19 Fund Board, in partnership with Kenya Association of Manufacturers (KAM)...
View MoreFrontline public healthcare staff dealing with COVID-19 patients will receive training on case...
View MoreEquity Group has triggered a Business Continuity Plan (BCP) to protect its customers, staff and...
View MoreEquity Group Foundation (EGF), with support from the Mastercard Foundation, today announced a...
View MoreAs Equity, we continue to comply and take precautionary measures for our customers and staff...
View MoreNow, more than ever, we invite you to make Banking something you do, not somewhere you go!
View MoreReplicates and scales the successful Wings to Fly scholarship model by targeting 18,000...
View MoreEquity Group has today commissioned the 2020 cohort of Wings to Fly scholars at a ceremony held...
View MoreEquity Bank Triple Win at International Banking Awards.
View MoreFifty six Equity Leaders Program (ELP) scholars have been admitted to various top tier...
View MoreEquity Bank Kenya enters into partnership with AGCO through Local Dealer FMD East Africa.
View MoreEquity taps World Bank Expatriate as it gears up for Pan African expansion and accelerated...
View MoreEquity Bank Kenya, a subsidiary of Equity Group Holdings Plc today announced the appointment of...
View MoreEquity Bank Kenya and Toyota Kenya Limited have today signed a partnership agreement that will...
View MoreEquity Group Holdings PLC (NSE: EQTY) and Safaricom PLC (NSE: SCOM) have today announced plans to...
View MoreThis year, Equity Group received nearly 20,000 applications from all counties across the country...
View MoreThirteen Wings to Fly beneficiaries were among the students who scored straight A’s in the...
View MoreChristmas carols have been around for years and set the stage for celebrating the birth of...
View MoreEquity will deploy its banking infrastructure as well as the Equity Group Foundation platform to...
View MoreInvestment groups, chamas and joint account holders can now withdraw cash from their Equity Bank...
View More