Equitel’s mobile commerce payments continued to grow by double-digit rates in both value and volume in the second quarter, says the latest report by the Communications Authority of Kenya (CA).
Equitel processed 66 million mobile commerce transactions in the last quarter to December 2017, up from 55 million transactions that were processed in the preceding quarter representing a 21 percent increase over the period.
The latest figures from the CA’s report for the period September to December 2017 additionally show that the value of Equitel-processed mobile commerce transactions stood at Kshs 258.9 billion, an 11 per cent increase from Kshs 233.6 billion.
Person-to-person transactions, on the other hand, crossed the Kshs 100 billion mark to stand at Kshs 102 billion up from Kshs 94 billion, representing an 8 percent increase.
Equitel has been actively rolling out Eazzy Paybill numbers by signing up retailers, fuel stations, schools, restaurants, hospitals in addition to national and county government departments as it seeks to offer convenience to subscribers across all networks.
Equitel Paybill numbers are interoperable meaning that they can accept payments from all mobile money wallets.
The latest CA report also comes on the back of the Group’s full-year results that were released in March.
In 2017, Equitel issued Kshs 70 billion in mobile loans, nearly double the Kshs 38.5 billion that was loaned on the platform a year earlier, representing an 82 per cent growth.
Equity Group, while releasing results for the year ended 2017, announced that Equitel and other digital banking platforms continued to increase contribution to non-funded income, cushioning the bank against a tough lending environment.
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