Safaricom claims “instantaneous” M-Pesa transactions

Safaricom claims “instantaneous” M-Pesa transactions

06 MAY 2014

Safaricom claims average transaction times for its popular M-Pesa money transfer service have been slashed from two hours to under 30 seconds following a platform upgrade.

The faster speeds, said Kenya’s biggest mobile operator, will make for a much more effective mobile banking proposition.

Safaricom added that the upgrade will help streamline operations for businesses which disburse staff salaries through M-Pesa, as well as for firms that receive payments via the platform and need to move cash to their bank accounts on a regular basis.

“Innovation is a continuous process at Safaricom and that is why we have been seeking ways to deliver services to customers with speed and efficiency, said Bob Collymore(pictured), Safaricom’s CEO.

He added that twelve leading banks and 26 SACCOs (saving and credit co-operative societies) have already migrated to the new platform and migration is on-going for 30 other institutions.

Author

Ken Wieland

Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight...More

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