All You Need to Know About Equity Bank’s EazzyApp

The Central Bank of Kenya (CBK) announces the resumption of charges for transactions above Ksh.100 effected through bank specific (in-house) mobile money wallets that are closely linked to the Savings and Credit Societies (SACCO) sector.
  • Equity Bank’s EazzyApp, Banking on the go

Equity Group Holdings’s EazzyApp is your Bank anywhere, anytime. Everything you do at the bank is now on EazzyApp. 

From sending money to paying for goods and services, accessing Eazzy loans, paying bills, checking the status of your account or saving for your future goals, it is all in your hands.

EazzyPay platform also launched is a service that allows customers to pay for Goods and Services from their Equitel line or Equity Bank App (Eazzy App) or from any Mobile money (Mpesa or Airtel Money) at an affordable rate. 

The platform offers real-time settlement, at no extra cost, real-time and limitless bank account access, new revenue streams and even cash management.

Through the App one can also access loan services. The loans are provided by Equity Bank Kenya Ltd and can be easily and conveniently accessed through Equitel SIM card.

EazzyPay also allows customers to pay for goods and services easily and conveniently using their mobile phone via Equitel, Mpesa, PesaLink and Airtel Money.

Stanbic and Equity Banks Waive Bank Fees, Give Grace Periods for Loans Amid Coronavirus Outbreak

Increased innovation and digitisation have seen 97.0% of all transactions of the bank is done on alternative channels, with mobile transactions taking up 79.0% of all loan transactions, and agency banking contributing 11.0% of all transactions.

This is based on the bank’s FY’2019 results.

However, in terms of the value of transactions, branches contributed 49.0% of the value of all transactions, while mobile and agency banking contributed 26.0% and 17.0%, respectively. 

This highlights the transformation of branches to handle high-value transactions. 

This transformation aids the bank by offering its ecosystem banking products to corporate and SME clients.

Equity Group Holdings Plc (NSE: EQTY) reported 13.8% y/y growth in FY19 Profit after Tax (PAT) to Ksh 22.6Bn.

Equitel recorded a 16 percent growth in the number of mobile money commerce transactions, according to the latest data from the Communications Authority (CA). The MVNO saw its mobile money commerce transactions increase to 101 million as at the end of June 2019, up from 87 million in the same period in 2018.

Equitel processed over 156 million transactions as at the end of June 2019 valued at KSh469.9 billion, compared to 140 million at the same period last year, valued at KSh413.4 billion.

Equitel’s subscription base as at June 2019 was 1.88 million, accounting for 3.6 percent of the market share.

How to Access EaazyBanking App

How to Access EaazyBanking App

To access the services offered by EaazyBanking App, all you need is an internet enable smartphone. 

You can then download the App from Google Play Store or the App Store from any mobile network. 

If you don’t have an Equity account, open one on the EazzyApp or Dial *247# to access the services from any network.