Search Results for: M-Pesa

Safaricom and Visa launch M-Pesa Global Pay Visa Virtual Card

Editor

Safaricom and Visa launch M-Pesa Global Pay Visa Virtual Card Safaricom has entered an agreement with Visa to form M-Pesa GlobalPay Visa Virtual card which will see the mobile phone-based money transfer service transact in 200 countries. This will allow customers to transact up to Sh150,000 ($1,28370) per payment and Sh300,000 ($2,567.3) per day. The deal is expected to shore Safaricom’s earnings from the mobile money services at a time M-Pesa revenues have been growing steadily. “By partnering with Visa to provide the M-Pesa GlobalPay Visa virtual card, we are…

Central Bank of Kenya Declines to cap the free M-Pesa transactions to five

olivia Craig
M-Gas Mpesa Central Bank of Kenya

Kenya’s leading telco Safaricom has lost the bid to cap free M-Pesa transactions to five. This comes after subscribers split high-value transfers to avoid paying transfer fees, costing it billions of shillings in revenues. The company had petitioned the Central Bank of Kenya (CBK) to cap the number of multiple transactions between two numbers, according to a recent disclosure of conference call transcripts between Safaricom and investors seen by the Business Daily. Safaricom reported that customers were splitting high-value money transfers of as high as Sh60,000 to deals of below…

Safaricom Launches Lipa Na M-Pesa promotion

Dianne Jacobs
M-Gas Mpesa Central Bank of Kenya

Safaricom has launched an eight week Lipa Na M-Pesa promotion that will reward both customers and merchants for making and receiving payments through the service. Buyers and sellers will receive 1 point for every KES 100 payment with customers standing to win one of 6 houses in weekly draws. The promotion runs until March 5th 2020 and will reward both customers and merchants in 8 regions across the country. In the grand finale, customers across the 8 regions will win one of 8 tractors each equipped with a plough and…

Global payments firm Adyen partners with Cellulant to onboard M-PESA on Netflix, eBay, Airbnb, Facebook

Editor

Cellulant has announced a partnership with Adyen – a global payment company, further increasing Adyen’s capability to offer its global merchants access to key local payment methods in major African markets. The deal will see Ayden, which replaced PayPal on eBay, bring mobile money platforms such as M-PESA, Airtel Money, Equitel, Tigo Pesa and MTN Mobile Money, as well as several online and mobile banking payment methods to eBay, Facebook, Airbnb, Spotify, Uber and Netflix. Adyen will have access to 40 mobile money operators, over 600 local & international merchants and over 120 banks in…

Vodacom and Safaricom in a bid to buy M-Pesa brand from parent company Vodafone

Dianne Jacobs
Vodacom

Vodacom and Safaricom are in the process of buying the M-Pesa brand from parent company Vodafone, in a deal reportedly worth over R190 million. Vodacom mentioned the deal in its recent full year results announcement, saying it expected the acquisition of the popular mobile money service to “further accelerate our mobile money growth plans in Africa”. Vodacom group CEO Shameel Joosub confirmed the plans in an interview with ITWeb, saying Vodacom, through a joint agreement with Safaricom, has done a deal with Vodafone to “take over M-Pesa completely”. “So, Safaricom…

PesaPal adds new payments options on app in partnership with M-Pesa, Visa & MasterCard

Electronic payments firm PesaPal has added payment options in its integrated mobile money processing platform for shoppers and those making utility payments. The company said its users will be able to leverage on its new app — dubbed PesaPal Mobile — to buy airtime, pay bills, book flights and holidays, purchase event tickets and pay school fees. It has partnered with Safaricom’s M-Pesa, Visa and MasterCard to enable the payments “Available on both Android’s Google Play Store and Apple‘s App Store, the app is geared towards consumers looking to simplify…

Mobile Commerce enabler DOCOMO Partners with Safaricom to Launch first App Store Integration with M-PESA.

Dianne Jacobs
M-Gas Mpesa Central Bank of Kenya

Global mobile commerce enabler, DOCOMO Digital has partnered with Safaricom to give customers the option to pay for content on the Google Play Store using M-PESA. The integration, which is powered by DOCOMO Digital’s mobile commerce enabling platform using Google Play’s payment API, allows M-PESA customers to use the mobile money service to pay for goods and services from the app store. The service is available to more than 27 million M-PESA customers in Kenya with an Android smartphone or tablet. From today, customers matching this criteria can purchase content…

Safaricom simplifies M-PESA access to businesses

Editor

Kenya is an undisputed global leader when it comes to mobile money services. In 2007, the telecom operator Safaricom launched its mobile money service M-Pesa as a simple way to text small payments between users. A decade later, M-Pesa has become the world’s most successful money transfer service. Safaricom, a major Mobile service provider in Kenya has announced a release of a feature-rich M-PESA Application Programming Interfaces (APIs) portal to businesses in the country.  Dubbed Daraja, the portal will enable businesses to easily integrate with the platform drastically cutting down…

Vodacom Will Discontinue M-Pesa South Africa From 30th June

Vodacom

  Earlier in the year, Vodacom said that it was reviewing M-Pesa South Africa. The service that was launched in 2010 and re-launched four years later, was expected to have millions of users but it only garnered 76,000 active users. Shameel Joosub, CEO, said in a statement that the decision was based on the fact that the business sustainability of M-Pesa is predicted on achieving a critical mass of users. Their revised projections and the high level of financial inclusion in South Africa meant that there was little prospects of…

CBK Proposes law for mobile loan apps

Dianne Jacobs
MTN Rwanda

CBK Proposes law for mobile loan apps Digital app lending companies operating in Kenya are set up for a shake-up after the country’s central bank proposed new laws to regulate monthly interest rates levied on loans by digital lenders in a bid to stamp out what it deems predatory practices. If approved, digital lenders will require approval from the central bank to increase lending rates or launch new products. The move comes in the wake of mounting concern about the scale of predatory lending given the proliferation of startups offering…