Kenya’s leading telco Safaricom has announced that the number of businesses on its Lipa Na M-PESA service has hit past the 200,000 mark.
The Lipa Na M-PESA service was launched in 2012 and enables businesses to make and receive payments from any customer or any other business across the country. The service particularly caters to businesses by providing higher transaction and account limits, more secure payments and easy integration with business systems and other financial services.
“The mobile phone has today become the most preferred alternative to cash and its popularity only continues to grow. More than ever, an increasing number of businesses are discovering the numerous advantages of cashless payments resulting in high growth for Lipa Na M-PESA. We continue to add more features and tools with a goal of empowering our business customers to grow and better manage their businesses,” the company’s CEO Peter Ndegwa noted.
The listed company also noted that there has been an increase in the uptake of the service since the onset of the pandemic as more businesses adopted cashless payments with customers using the service increasing by 1 million since January 2020 to more than 6 million today.