Safaricom, PayPal and TransferTo have announced a collaboration on a new service that will allow movement of funds between M-PESA and PayPal accounts, a huge boost to international eCommerce. Qualifying M-PESA customers in Kenya can link their PayPal accounts to their M-PESA wallets, enabling them to easily and securely buy goods and services from merchants around the globe. In addition, M-PESA customers can still receive and withdraw money from more than 140,000 agents across the country. Similarly, the new will give Kenyan merchants the opportunity to boost their reach and grow their business internationally. “M-PESA’s collaboration with PayPal will open up global market places and the global economy to millions of Kenyan and Kenyan-based businesses and individuals. Beyond
M-Pesa’s position as the leading cash transfers service is set to face a new challenge with the launch of mobile money interoperability, which will see users send and receive money across networks in real time. The communications and banking sector regulators are today set to announce the start of a pilot test of the cross-network service beginning Monday next week, before its full launch to the public later on. The cross-network transfers will be limited to Airtel and Safaricom employees in the pilot phase. “One of the key reasons we need interoperability is to make sure that people are not limited by a closed network, you should be able to send money to anyone on any network and receive money from anyone,” said ICT minister Joe Mucheru in an interview yesterd
Safaricom has extended its 4G network to all the 47 counties in Kenya in a competitive bid that will see clueless Jamii Telecom’s Faiba Mobile struggle to catch up. Safaricom also announced that by the month of November 2017 its active 4G subscribers had reached 1 million across the country. “The country has consistently stood out as a global innovation powerhouse and a leader in global mobile technology adoption. This milestone further cements Kenya’s position and establishes a strong foundation for future innovation,” said Joseph Ogutu, Director – Strategy, Safaricom. The company says the milestone has been achieved with its 4G network now available across all 47 counties in the country. Safaricom became the first network to rollout a 4G network in the country in December 2014.
In line with changing lives in Kenya by making homes more fun and great for work and learning, Safaricom is now providing Home Fibre. The Listed telecom operator has introduced four packages, Platinum, Gold, Silver and bronze, for its Internet to homes offering as it makes an aggressive play to grow its market share. The Safaricom Fibre allows users to have fast, reliable and unlimited internet access from the comfort of their home. After registration, a user will be given a router and access to credentials that will enable them to have both Wireless and LAN access, with no installation charges. In the new strategy, Safaricom will charge Sh2,500 for bandwidth of 5 megabits per second (Mbps) and in the bronze package and Sh9,999 for 40Mbps speeds for platinum customers. The
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