\tGrowing adoption of mobile money services in Kenya resulted in double-digit year-on-year growth in the value of transactions over the first eight months of 2019, figures from the Central Bank of Kenya showed.<\/p>\n
Official statistics showed the sum transferred using mobile money and payment services topped KES2.87 trillion ($27.7 billion) in the period to end-August, up 10.3 per cent on the same period of 2018.<\/p>\n
Local newspaper Business Daily reported several factors contributed to the growth, in particular growing use of mobile to pay bills or transfer funds.<\/p>\n
The newspaper also cited an increase in the number of mobile money agents in the country: the central bank’s figures showed there were 222,479 agents at the close of the recent period, up from 202,627 at end-August 2018.<\/p>\n
Mobile money accounts increased from 43.6 million at end-August 2018 to 54.8 million, with the number of transactions rising from 149.5 million to 151.8 million.<\/p>\n
Business Daily noted an increasing number of merchants in the country now prefer to conduct transactions using mobile services, due to concerns over the safety of physical payments.<\/p>\n","protected":false},"excerpt":{"rendered":"
Growing adoption of mobile money services in Kenya resulted in double-digit year-on-year growth in the …<\/p>\n
The post Kenyan mobile money transactions top $27B<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n