Mobile payment services
Telkom Kenya is Planning a Loan Product on T-Kash
Image sourced from News24 Telkom Kenya is reportedly planning on introducing a credit product called T-Kash Loan. According to Techweez, the product has not been activated yet but the company has indicated on the T-Kash app that it is “coming soon.” T-Kash is a mobile payment solution owned by Telkom, a telecommunication provider with a presence in more than 38 African countries. The new product will be taking on Safaricom’s M-PESA, one of the leading mobile money services in Africa, which currently owns 99 percent of the market share in the country. This product will also be the first of its kind for Telkom while Safaricom offers this product in three ways through the M-PESA mobile money service, which includes Fuliza, KCB M-Pesa, and M-Shwari. It is not clear yet whether the telco will b...
HelloPay Launches Business Solution Package to Support SMEs
Image sourced from Xpatloop. HelloPay has launched a new turn-key suite of business solutions that will enable growth, save costs, and give users peace of mind that financial access is available to them when they need it. The informal sector accounts for about 18 percent of South Africa’s GDP, with over three million workers engaged in the informal economy. In addition, an estimated 2.9 million migrants reside in South Africa, many of whom struggle to access financial services in order to start small businesses like spaza shops, salons, and kiosks. That’s an incredible portion of the population that remains underserved in the financial sector, unable to access or otherwise afford the services needed to grow their businesses. Serving the underserved HelloPay’s SoftPOS offering, which w...
Safaricom’s M-Pesa & Visa Introduce GlobalPay Virtual Card
Image sourced from HapaKenya. Safaricom has entered an agreement with Visa to form M-Pesa GlobalPay Visa Virtual card which will see the mobile phone-based money transfer service transact in 200 countries. This will allow customers to transact up to Sh150,000 ($1,283.70) per payment and Sh300,000 ($2,567.39) per day. “By partnering with Visa to provide the M-Pesa GlobalPay Visa virtual card, we are looking to bridge the gap for our customers who would like to use M-Pesa anywhere across the world,” Safaricom CEO Peter Ndegwa said. According to Business Daily, the two firms are also targeting to launch the M-Pesa GlobalPay Visa Virtual Card Tanzania, Congo DR, Mozambique, Lesotho, and Ghana. This new deal will make it possible for Visa to fulfill its goal of penetrating the African market. V...
