Safaricom’s M-Pesa recorded the highest market share of 98.8 per cent in mobile money transfer between October-December 2019.
According to the latest Communication Authority data for the review period, the value of person-to-person (P2P) transfer over mobile money platforms hit KSh684.5 billion a 6.47 per cent decline from KSh731.9 billion recorded over the same period last year.
Customer deposits were valued at KSh606.96 billion.
Telkom Kenya’s T-Kash recorded the lowest market share of 0.07 percentage points.
In the wake of the COVID-19 pandemic, mobile network operators have waived fees for all P2P transactions under KSh1,000 for the next 90 days aimed at reducing the physical exchange of currency
The value of e-commerce transactions in the period stood at KSh1.58 trillion with business-to-business transactions accounting for 54.52 per cent valued at KSh859.61 billion.
Between October-December, customers to business transactions were valued at KSh294.01 billion, business to customer KSh377.41 billion while customer to government transactions stood at KSh9.73 billion.