Mpesa and other payment services linked to the use of mobile telephony are up sharply in 2017 compared with the previous year.
According to data provided by the Kenyan Communications Authority, money sent by mobile phones and money to pay for expenses, bills and other services increased by 71% compared to the previous year and more than half of these transactions were used to pay for goods and services through commercial platforms that joined mobile banking payment services.
This year we are talking about EUR 120 million being used in Kenya, which is a very considerable figure and will continue to rise, despite the crisis of many banks rooted in national soil.
Safaricom, the mobile phone company that invented the revolutionary "Mpesa" payment system, obviously continues to have the largest share of the market, with two-thirds of turnover, while Equity Bank is ranked second with its "Equitel"platform.
Airtel and Telkom (formerly Orange) have a very small share of the market, which in two cases does not reach one per cent of the market.
However, this trend indicates the success of mobile payment systems, i. e. using what is now the tool in everyone's hands. Just think, for example, that many banks now allow Mpesa to recharge directly with an App from their online account, as well as to pay for utilities, pay-TV contracts and more. In addition to the advantage of being able to run without liquids in your pocket or bag.