Mobile money pioneer, MPESA, now has more than 50 million monthly active customers (MAU) across the continent with almost half of the subscribers residing outside of Kenya.
In a press release by Safaricom, which is MPESA’s parent company, the service is now available in 7 locations across Africa:
SEE ALSO: Kenya’s Mobile Money Payments Rise to $30 Billion in H1 2021 – a 52% Increase YoY
The service that is under the management of both Safaricom and South Africa’s Vodacom since early 2020, has made attempts to expand its offering and market.
Spaking about the milestone, Sitoyo Lopokoiyit, Managing Director, MPESA Africa, said:
“14 years ago, we launched M-Pesa to connect our customers to each other and to different opportunities. We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent. As an honour to this achievement, we are reiterating our commitment and deepening our focus on more innovations that will further transform the lives of our customers.”
– Managing Director, MPESA Africa
Originally, the service can be accessed on a sim toolkit app where users are able to send and withdraw money, make payments, and access loans. However, the service introduced a super-app in June 2021, and is in the process of rolling it out to customers and uploading third-party services that they can interact with.
The superapp is said to have mini apps that can be used for several ‘day to day tasks’ such as shopping and accessing government services.
The super app aims to provide a better interface for users in a modern, intuitive, and secure way.
Lastly, MPESA’S second main offering is a solution for business payments which has been known as Lipa na Mpesa in Kenya.
The service offerings for business payments now include:
- An open API in use by more than 4,500 developers and 200,000 businesses
- A super-app catering to MPESA for business
- A transcating TILL number
- Pochi la Biashara, which is a service for small businesses to separate personal and business funds
MPESA notes that over 500,000 businesses transact $7 billion every month on MPESA.
RECOMMENDED READING: Kenya’s Mobile Money Transactions Up 56% in 2021 YoY So Far
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