Safaricom slashes transaction steps

Safaricom has slashed the transaction steps from eight to one involving tapping of wristbands, stickers and cards via the M-Pesa 1Tap payment solution.

The service that was launched in Nakuru four months ago is being rolled out in five more towns comprising Nairobi, Mombasa, Kisumu, Eldoret and Nyeri. M-PESA 1Tap aims at making it faster and easier to make and receive cashless payments.

The service also increases the accuracy and privacy of Lipa Na M-PESA by ensuring that payments are delivered to a matching merchant.

“As a trusted, easy and convenient cashless payment solution for more than 70,000 businesses in Kenya, Lipa Na M-PESA is ready to advance to become a more seamless solution. M-PESA 1Tap builds on a strong foundation built on 10 years of learning and feedback from both our customers and merchants. We hope it will transform the world of cashless payments,” said Bob Collymore, CEO, Safaricom.

He says the merchant solution will be progressively rolled out to leading supermarkets, petrol stations and restaurants.

Customers will initially have the option of obtaining an M-PESA 1Tap wristband, phone sticker or card which will allow payment integrations with M-PESA 1Tap merchant terminals.

“Naivas has been at the forefront of technology adoption, which is why we are happy to deploy M-PESA 1Tap. We believe it will greatly improve our customer experience by increasing the speed, accuracy and privacy when paying by M-PESA at our outlets,” said Simon Mukuha, Managing Director, Naivas.

To make a payment, a merchant will key in the payment amount into their device, tap the customer tag, and the customer will then key in their PIN on their phone to validate the payment. This cuts down the steps involved from more than eight steps using the M-PESA tool on SIM cards to just one step for the customer.

“At Vivo Energy we are always looking for ways of improving the offer we give to the customers. We are therefore in this innovation journey and are glad to partner with Safaricom in giving our customers convenience as they make their purchases,” said David Mureithi, Acting Managing Director Vivo Energy Kenya.

M-PESA 1Tap was launched in May 2017 in Nakuru County, with more than 90,000 customers and 2,000 merchants taking up the service.

Mobile cashless payments have increasingly grown popular in Kenya, with Central Bank of Kenya statistics showing that they accounted for 72.8 percent of cashless payments by value and 88 percent by number of cashless transactions in July 2017.

In the full year ended march this year, Safaricom had 19 million active M-pesa users and 50,000 Lipa na Mpesa merchants who translated a total of Ksh6.8 trillion.

  

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