Kenya’s Safaricom says the number of businesses on their Lipa na MPESA platform has crossed the 200,000 mark ‘which is a significant milestone’.
“The mobile phone has today become the most preferred alternative to cash and its popularity only continues to grow. More than ever, an increasing number of businesses are discovering the numerous advantages of cashless payments resulting in high growth for Lipa Na M-PESA. We continue to add more features and tools with a goal of empowering our business customers to grow and better manage their businesses,” said Peter Ndegwa, CEO, Safaricom.
In response to the Covid-19 pandemic, the telco says the service which is part of M-pesa, they have seen an increase in its uptake as more businesses have adopted cashless payments and gone online.
“The rush by businesses in taking up the service has also been to meet growing uptake of Lipa Na M-PESA amongst Kenyans, with customers using the service increasing by 1 million since January 2020 to more than 6 million today,” it said in a statement.
Safaricom has recently unveiled several innovations that focus on them. These include the Lipa Na M-PESA Business App, which for the first time, provides many of these businesses with detailed reporting tools and a dashboard to track their cash flow. The App has been downloaded by more than 90,000 businesses since its launch two months ago.