M-Pesa Loses Ground on Person-to-Person Money Transfers

Thursday, July 26, 2018

By Saruni Maina

Kenya is the epicentre of mobile money technology and we have seen a lot of innovation around the same stretching from payments to quick loans. Safaricom being the godfather with M-Pesa, have always taken the lead when it comes to revenue and market share. The statement ‘M-Pesa is King’ holds water but does not tell the full story.

According to the latest report by Communications Authority of Kenya (CA) shows that M-Pesa still commands a large market share compared to the competition with a whopping 23.6 million subscribers up against 3.3 million on Airtel money and 1.9 million on Equitel.

Photo courtesy of indicpeace.

Source: Techweez (link opens in a new window)

Finance, Telecommunications
digital payments, fintech, telecommunications