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January 21, 2025

On the web

January 20, 2025

On the web

Safaricom’s M-Pesa to Join Pesalink as Central Bank Plans New Payment System

TechCabal

"Safaricom’s M-Pesa is set to join the Pesalink network, which could significantly reshape Kenya’s digital payments landscape. In a proposal submitted jointly with the Kenya Bankers Association (KBA) to the Central Bank of Kenya (CBK), Safaricom wants to integrate M-Pesa, Kenya’s largest mobile money platform, into the national interbank payment system, Pesalink, which already connects 39 banks across the country."

January 16, 2025

On the web

January 7, 2025

On the web

December 2, 2024

On the web

November 20, 2024

On the web

October 23, 2024

On the web

October 18, 2024

On the web

October 15, 2024

On the web

Central Bank of Kenya Upgrades to Global Standard for Bulk Payments

Kenyan Wall Street

The Central Bank of Kenya (CBK) has migrated the Kenya Electronic Payment and Settlement System (KEPSS) to the Global Messaging Standard (“ISO20022 Standard”). KEPSS is Kenya’s Real-Time Gross Settlement (RTGS) system operated by CBK to process large-value and time-critical payments involving domestic and regional payment transactions.

October 1, 2024

On the web

Safaricom Introduces M-Pesa Ratiba, a Standing Order Feature

Capital News

"Safaricom’s Mobile Money Platform, M-PESA has introduced M-PESA Ratiba, a first of its kind on mobile money feature that will allow users to set up standing orders directly from their M-PESA wallets, enabling seamless and automatic payments of recurring transactions and bills."

September 25, 2024

On the web

July 10, 2024

On the web

Kenya’s Mobile Money Sector Soars After Removal of Airtel-M-Pesa Transfer Barriers

Innovation-Village

"Kenya’s mobile money landscape has experienced a significant boost, with subscriber numbers surging to 38.7 million following the removal of withdrawal codes for transactions between Airtel Money and M-Pesa. Previously, Airtel Money users faced the inconvenience of having to withdraw cash within seven days of receiving funds from M-Pesa or risk having the money returned to the sender."

April 12, 2024

On the web

October 16, 2023

On the web

August 10, 2023

On the web

August 3, 2023

On the web

August 2, 2023

On the web

July 19, 2023

On the web

TerraPay (Mobex) Partners with Safaricom's M-PESA to Facilitate Seamless Outbound Cross-Border Remittances

PrnAsia

"TerraPay, a leading global payments infrastructure company announced its partnership with Safaricom, Kenya's leading telecommunications, IT and financial services provider...The partnership, through TerraPay's group company Mobex (Kenya), a licensed Money Remittance Provider, will enable more than 30 million M-PESA mobile wallet-holders in Kenya to send real-time payments through TerraPay's interoperable network across all wallets in Bangladesh & Pakistan, with plans to roll out India & Nepal in a few months."

July 7, 2023

On the web

More Than 3 Million Customers are Now Using the M-PESA Super App

TechTrendsKE

"Safaricom’s M-PESA super app has surpassed three million users up from 1.2 million in April 2023. Safaricom revealed this on Thursday while announcing two new additional services two the app. According to Safaricom’s latest financial year to April 2023, the Super App processed 489 million transactions with a value of KSh. 1.3 trillion."

June 2, 2023

On the wires

May 3, 2023

On the web

Central Bank of Kenya Unveils QR Code Standard For Online Payments

Capital Business

"The Central Bank of Kenya (CBK) has unveiled a QR Code Standard that seeks to hasten online payments for businesses and customers. The standard will guide how payment service providers and banks that are regulated by the CBK will issue Quick Response (QR) codes to consumers and businesses that accept digital payments."

December 15, 2022

On the web

Safaricom Slashes Bank to M-Pesa Fees

Global Banking & Finance Review

“Safaricom will drastically cut charges on M-Pesa to bank transactions by a range of between 23 per cent and 100 per cent at the start of next year as the Central Bank of Kenya pushes forward with its goal of making financial services more affordable. Banks and Safaricom have not been charging their customers for these transfers since the outbreak of the Covid-19 pandemic, with the waivers part of emergency measures aimed at increasing the uptake of cashless transactions besides offering relief to households. The CBK has been allowing regulated entities to resume charges on their services but at lower rates than before, with the transfers between mobile wallets and banks being the latest to implement the price reforms. While the charges have been cut substantially, their reinstatement will still boost the revenues of banks and Safaricom by billions of shillings.”

December 2, 2022

On the web

Vodacom Launches Fuliza-Like Service in DRC

Techweez

“Vodacash is launching its new service M-Pesa Rallonge in the DRC to allow customers to financial assistance from their cell phones. M-Pesa Rallonge is a new service dedicated to M-Pesa users with zero or insufficient balances. Users will be able to take advantage of this service to get an instant overdraft and top up their balance to make a transaction, such as: Send money without withdrawal fees; Purchase Credit for oneself; Purchase Packages for oneself; Purchasing Products; Resubscription to cable channels such as Canal+, Startimes, Easy TV, and Bleusat, except DStv, which only supports payment in dollars. As you might have already guessed, this is the same product as M-PESA’s Fuliza in Kenya, which allows customers to access credit when their balance is zero or insufficient for completing certain transactions. It has been around since 2019 and has since surpassed M-Shwari and KCB M-PESA in terms of revenue. The product has further seen its charges reduced substantially to cushion users from the harsh economic times.”

December 1, 2022

On the web

PesaPal Unveils M-Pesa Tap And Go Feature

Capital Business

“Electronic payments firm Pesapal has unveiled a M-Pesa tap and go pay feature, allowing customers to pay for goods and services seamlessly. The Supertap platform enables Pesa mobile users to simplify Mpesa payments at the thousands of merchants using Pesapal Sabi POS machines. Customers can now tap their phones on Pesapal Sabi POS machines to complete Mpesa payments. Supertap eliminates the lengthy process at the counter where customers are required to key in till numbers or give cashiers their phone numbers to complete payments.”

November 9, 2022

On the web

M-PESA to Split from Safaricom- What Happens Next?

Gadgets Africa

“After years of speculations, political pressure, and internal resistance, it is finally about to happen- Safaricom and its mobile money platform M-PESA will become separate entities by 2023. Recently, its local competitor, Airtel Kenya, became the first to undertake this huge step. Airtel Kenya has already separated its mobile money business, Airtel Money, from its other services.  Currently, M-PESA services are still under Safaricom PLC, which pays tax as a communication services firm. Since when late Bob Collymore was CEO, the idea of a split has never settled well with Safaricom management. Past and present CEOs have maintained that it feels like a punishment to the company because of its success.”

October 28, 2022

On the web

M-Pesa Active Users in Kenya Hit 32 Million

Garowe Online

“Safaricom’s M-Pesa platform’s active users have hit 32 million, this is driven by the need for mobile payment platforms by Kenyans. Safaricom Chief Executive Officer, Peter Ndegwa said.  “During the reporting period (April 2021 to March 2022), our biggest innovation, M-Pesa which celebrated 15 years also celebrated the 30 million customer mark-monthly active customers.  And I dare say that since then, we’ve seen another 2 million join the franchise.””

July 18, 2022

On the web

M-Pesa Links Paybill with Telkom, Airtel Money

Business Daily

“Airtel and Telkom users will from today (Friday) access Safaricom’s pay bill platform following the upgrade of the seamless transfer of money through merchants attached to different operators. The Communications Authority of Kenya (CA) and the Central Bank of Kenya (CBK) will Friday launch the interoperability for the pay-bill service— the ability of different IT systems to communicate and exchange data —of the two rival networks for merchant payments.”

July 5, 2022

On the web

M-Pesa Visa Undercuts Banks on Forex Charges

Business Daily

“M-Pesa virtual Visa card is undercutting Kenya’s commercial banks with lower foreign exchange rates in the race to get a larger share of the country’s cross-border payments market. The virtual card, which is initially available to more than 30 million M-Pesa users in Kenya, is charging Sh121.92 to the dollar for payments across Visa’s 61 million merchants.”

April 5, 2021

On the web

Kenya Becomes the Second African Country to Launch 5G

Quartz

“Mobile network operator Safaricom has launched a 5G network in Kenya. This makes it the second country in Africa to roll out the technology to customers, according to GSMA, an organization representing mobile network operators worldwide. The company is trialling the technology in four towns, and expects to expand it to nine over the next year. Safaricom CEO Peter Ndegwa described the launch last week as “a major milestone for the country.”  The telco is implementing the project using technology from the Finnish company Nokia and the Chinese company Huawei.”

March 1, 2021

On the web

Kenya Is Preparing to Crack Down on a Flood of High-interest Loan Apps

Quartz Africa

“A new Kenyan bill seeks to license and regulate digital lending platforms in the country, in a bid to clamp down on the issuance of high-interest loans as well as the predatory practices that have accompanied the industry’s massive growth. Mobile lending apps have become an easy source of credit for Kenyans who don’t have accounts with banks and other traditional financial institutions, or the regular income needed to borrow from such establishments.”

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