In Summary
  • Mobile payments nearly hit Sh3.64 trillion last year translating to a daily average of Sh9.97 billion, reflecting rising settlements via mobile phones.
  • Mobile payments are now being driven more by mobile commerce than Person-to-Person (P2P) transactions.
  • The latest driver of M-commerce is the growing demand for instant low-value unsecured mobile loans.

The value of cash transacted through mobile phones rose by Sh283.37 billion in the 12 months ended December 2017 compared to the previous year, fresh data from the Central Bank of Kenya (CBK) shows.

Mobile payments nearly hit Sh3.64 trillion last year translating to a daily average of Sh9.97 billion, reflecting rising settlements via mobile phones.

Mobile cash transfers in December touched a record Sh332.62 billion, a growth of Sh33.66 billion compared with November as business activities started to pick up after months of heightened political tension.

Communications Authority of Kenya (CA), the telecoms regulator, in a quarterly report late December said mobile payments are now being driven more by mobile commerce than Person-to-Person (P2P) transactions.

The value of M-commerce transactions between July and September 2017, for example, jumped 60 per cent year-on-year compared with P2P cash transfers that rose 14.7 per cent, the CA report showed without disclosing the actual numbers.

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