M-Pesa unlocks multiple transactions at a go

Kenyans using Safaricom’s mobile money application M-Pesa will be able to run multiple transactions in a single instance after the revamp of the platform.

On Wednesday, the telecoms operator rolled out its new M-Pesa application for customers owning smartphones in a bid to boost the efficiency of the service.

Available to users on both Android an iOS platforms, the new applications integrates further features including notes accompanying transaction messages, mini-applications and even a request for money feature, similar to Safaricom’s popular please call me option.

The mini-applications which currently have seven embedded apps including Pro-Gas, the County Pension Fund (CPF) and Kenya Railways allows customers to deploy third party applications on their M-Pesa menus processing payments such as bookings and monthly remittances.

Additionally, the revamped application allows customers to access the services while offline.

Safaricom Chief Executive Officer Peter Ndegwa says the new application which follows a pilot phase last year responds to increased smartphone use among Kenyans.

“The explosion of the smartphone has required us to shift our services to the new smartphone age,” he said.

“Over the last 14-years, M-Pesa has largely evolved around the basic mobile phone, today, more Kenyans are moving towards 4G devices. We are in the middle of a digital shift,” added Safaricom’s Acting Chief Financial Services Officer and Managing Director for M-Pesa Africa Sitoyo Lopokoiyit.

Safaricom is set to adopt similar new features to its M-Pesa for Business application which is set for an upgrade shortly.

The second businesses centered applications seeks to draw in enterprises through features such as the M-Pesa business till which allows users to consolidate their business transactions into a separate wallet while receiving greater transaction limits.

Currently over five million businesses are estimated to still receive and send out payments through the traditional person to person (P2P) transfer.

On overall, the revamp of M-Pesa applications is set to further firm up the platform’s footing in the telco providers business.

M-Pesa is currently Safaricom’s largest revenue earner having topped Ksh.82.6 billion in flows across the last year to March 31 or an equivalent 33 per cent of the telcos total earnings.

A total of Ksh.22 trillion was transacted on the platform last year through 11.7 million individual transactions.

At the end of the period, M-Pesa had registered 302,000 active Lipa Na M-Pesa tills.

Meanwhile, 28.3 million Kenyans used M-Pesa at least once a month representing a 13.6 per cent jump in one-month active customers.

M-Pesa covers more than 98 per cent of all mobile-money transactions in the country according to data from the Communications Authority of Kenya (CA).