Kenya’s mobile money transactions have gone beyond the one trillion shilling mark for the first time since inception according to a report released by the Communications Authority.
According to the Communications Authority, the second quarter of the year 2017/2018 saw mobile transaction standing at 1.17 trillion shillings from 714 billion shillings. This was a whopping 64 percent increase.
According to the report, a total of 607.4 mobile money transfers were carried out during the period under review with Safaricom’s M-Pesa taking the lion’s share, followed by Equitel (A constituent of Equity Bank).
The number of mobile commerce transaction dropped by 44 million from 350 million in the previous quarter to 308 million. The number of transactions through Lipa Na M-Pesa dropped but the transactions from it nearly doubled as compared to the previous quarter.
Equitel currently has more than 30,000 merchants across the country with Safaricom still leading with 50,000 active merchants on its Lipa Na Mpesa product..
There are other platforms in Kenya are Lipa Sasa Na MobiKash, Airtel Money’s ‘buy goods’ module while Tangaza Pesa is piloting MyDuka.