In Summary
  • Money that changed hands via phones defied poll jitters to hit Sh3.3trn
  • Mobile cash transfers in November was nearly Sh298.96 billion, a marginal Sh61 million or 0.02 per cent drop compared with Sh299.02 billion in October.
  • That may be a pointer the call by main opposition National Super Alliance on its supporters to boycott Safaricom products may not have had much impact on M-Pesa.

Mobile cash transactions expanded by Sh267.52 billion in first 11 months of 2017 compared with the same period in 2016.

Fresh data from the Central Bank of Kenya (CBK) Thursday showed mobile payments hit nearly Sh3.31 trillion in the period or 8.8 per cent higher.

Mobile cash transfers in November was nearly Sh298.96 billion, a marginal Sh61 million or 0.02 per cent drop compared with Sh299.02 billion in October.

That may be a pointer the call by main opposition National Super Alliance on its supporters to boycott Safaricom #ticker:SCOM products may not have had much impact on M-Pesa.

The payment platform controls about three quarters of mobile money market share.

The upswing in mobile commerce, including growing popularity of instantly accessible mobile loans which are costlier than conventional ones, has in recent past boosted growth in mobile payments.

The value of mobile commerce between July and September 2017, for instance, jumped 60 per cent year-on-year compared with person-to-person transfers which rose 14.7 per cent, data from the Communications Authority of Kenya showed late last month.

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