Equity Bank’s mobile money platform Equitel
rode on interoperability to grow, processing transactions worth Sh711.5
billion in the three months to December up from Sh650.3 billion in the
previous quarter.
The value of Equitel's transactions
was Sh350.5 billion, Sh258.9 million for its mobile e-commerce while
person-to-person transfer on the platform amounted to Sh102 billion,
according to the Communication Authority (CA)'s Second Quarter Report.
The performance of Equitel's e-commerce transactions represented
an 11 per cent growth from the Sh233.6 billion posted in the previous
quarter,
“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 for payment of licence fees and rate charges.
“Equitel
Paybill numbers are interoperable meaning that they can accept payments
from all mobile money wallets, making it convenient to subscribers
across all networks,” said the bank.
Mobile loans
CA’s
report shows that Equitel posted an 82 per cent growth in mobile loans
in the same period, disbursing Sh70 billion up from Sh38.5 billion in
the previous quarter.
Equitel also registered an eight
per cent increase on person-to-person transactions surpassing the Sh100
billion (1 billion USD) up from Sh94 billion reported earlier.
“Equitel
processed 66 million mobile commerce transactions in the quarter to
December 2017, up from 55 million transactions that were processed in
the preceding quarter representing a 21 per cent increase over the
period,” it said.
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