Equity says 200,000 have signed up for its mobile money platform in Kenya

Monday, November 3, 2014

EQUITY Bank yesterday said it has “quietly” registered over 200,000 customers on its mobile money trans- fer platform, Equitel, in the ongoing rollout.

Chief executive James Mwangi said daily registration has been “in thousands” peaking at 6,700 on Wednesday.

He said that the rollout would go on without funfare, a move he said will save the bank Sh2 billion earlier earmarked for the launch.

“Our competitors have done us the favour of marketing it for us,” Mwangi said referring to Safaricom that has raised data security concerns over the thin-SIM technology that Equity has outsourced from Taiwanese firm Taisy’s Technologies.

Source: The Star (link opens in a new window)

digital payments, mobile finance