Tag: mobile money

May252018 by editorNo Comments

Retail giant Shoprite partners with Standard Bank, Google and Celbux to launch a mobile money platform

The Shoprite Group has announced ‘Shoprite Money’ – a new mobile transactional banking service which is available to everyone, even those without existing bank accounts the retailer said in a statement on Wednesday. The service has been launched in partnership with global fintech company Celbux, Google and Standard Bank. “Using their Shoprite Money mobile wallet, this new service will allow customers to deposit, withdraw or send money as well as buy groceries at any of the till points in all Shoprite, Checkers, Checkers Hyper or Usave stores,” it said. Customers can also send money and buy electricity or airtime using their mobile phones, provided they have funds in their Shoprite Money account. “Basic transactional banking services in South Africa are expensive and in many cases

Jul282017 by Lynn WandiaNo Comments

Mobile money competition rises with the introduction of Visa payment service

Technology

Kenya is one of the most attractive markets for mobile money because of the success of Mpesa, launched by Safaricom, which is 40 per cent owned by Vodafone, nine years ago. Visa, the world’s largest payment company, has taken the competition for mobile money service a notch higher with the launch of mVisa that enables Kenyans use mobile phones to transact cash and make payments. The payment service platform has partnered with four banks in Kenya to launch a mobile phone payments platform that will mount the first credible challenge to the country’s dominant Mpesa system. The rollout of the service will enable Kenyans make free domestic mobile money transfers using mVisa. The daily limit for person to person transfers is set to be Sh250,000 with the per transaction limit being

Jun202017 by Lynn WandiaNo Comments

Safaricom Rebrands logo & Tagline after 17 years

Mobile, Technology

Safaricom has been at the forefront of Kenya’s mobile communication needs for almost two decades now. From the days of lining up for hours in order to access the ‘Simu Ya Jamii’ to getting your first phone which had to be sustained by airtime of over 500 Bob to a time where we can access mobile loans in seconds just shows that nothing is impossible with Safaricom. The Telco Giant launched a new logo, not so different from the old one and dropped its long-time tagline, “the better option” for “Twaweza”, a Swahili word, meaning we can. With the new changes, Safaricom’s CEO, Bob Collymore said that the telco giant was now focused on building a more human network that leverages the strength of their talent. We are now able to connect to other parts of the world at incredible speeds t

May102017 by Lynn WandiaNo Comments

Safaricom goes digital with the launch of M-pesa smart card

Technology

Kenya’s largest mobile service provider, Safaricom, has launched the much anticipated M-Pesa payment cards which was unveiled during the announcement of the Safaricom FY Results, 2017. The Safaricom smart card looks more like the Debit and Visa Cards but the functionalities are not the same . The card allows for payment of services and goods instantly. Dubbed M-Pesa 1 Tap, this payment solution package includes a Wrist band and NFC badge. First launched successfully as a Pilot in Nakuru, M-Pesa 1 Tap will be rolling out country-wide with about 500,000 point of sale (POS) payment points in bars and restaurants, retail shops, fuel stations, among others. This is going to change everything. The M-PESA Card is linked to a user's M-PESA account. Therefore, before using the M-PESA Card

Apr282017 by Lynn WandiaNo Comments

Why Kenyans Rely On Mobile money Services

Mobile

PAYING for a taxi ride using your mobile phone is easier in Nairobi than it is in New York, thanks to Kenya’s world-leading mobile-money system, M-PESA. Launched in 2007 by Safaricom, the country’s largest mobile-network operator, it is now used by over 17m Kenyans, equivalent to more than two-thirds of the adult population; around 25% of the country’s gross national product flows through it. M-PESA lets people transfer cash using their phones, and is by far the most successful scheme of its type on earth. Why does Kenya lead the world in mobile money? Before we look into the intricacies of this question, it is apparent that the Kenyan economy is deeply integrated with Mpesa services and in extension, our lives in general. In order to assess the depth of this dependence, there is need t