· Safaricom’s Lipa Na M-Pesa cashless payment service will be available to subscribers on rival mobile networks, such as Airtel and Telkom also.
Safaricom’s Lipa Na M-Pesa cashless payment service will be available to subscribers on rival mobile networks, such as Airtel and Telkom also. The move is expected to improve financial inclusivity by expanding customer choices through the concept known as interoperability. The new product will be launched shortly.
Under this model, service providers decide to share infrastructure to ensure their respective clients are served at either outlet giving mobile money users freedom and convenience. This allows a customer using Airtel cash, Telkom’s T-Kash to pay for goods even at places that have only Safaricom’s Lipa Na M-Pesa registration. Later, the service providers would settle the transactions among themselves. The company claims that both customers and the businesses will benefit from the convenience offered by the new product by avoiding the hassle of seeking clients or businesses subscribing to the same service provider, to get or offer services.
M-Pesa remains Safaricom’s single largest business line earning Sh82.6 billion, in the year ending March, despite waving off charges for all transactions below Sh1000. Kenya has the maximum users of M-Pesa in the region. The country has 30 million M-Pesa users out of the 51 million users across the region. Recently there were reports that M-Pesa technology is poised to expand to Europe too.
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