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Equity Bank partners with Safaricom for M-Pesa.

In the news this week, Equity Bank and Safaricom have announced a strategic partnership for M-Pesa. Basically, any of M-Pesa’s 8 million subscribers in Kenya will now be able to make card-less drawings from any of Equity Bank’s 550 automated teller machines (ATMs) throughout Kenya. This is not the first time that Safaricom has made such strategic partnership since it already does the same with PesaPoint’s nationwide ATM network in Kenya.

Equity Bank is clearly positioning itself to become the preferred bank for mobile money services since it announced last month that it had partnered with the YU network to act as an agent for its extensive branch network in Kenya (this was covered in a post on this blog as well). As of this writing, Equity Bank has the largest number of account holders in Kenya with over 4 million. The latest partnership move would enable Equity Bank to start acquiring more account holders as well as selling additional services.

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5 Comments

  1. January 16, 2010 at 7:15 am — Reply

    things looking good..future bright.
    .-= lawey´s last blog ..I went for H.I.V test =-.

  2. […] Finance will also provide agency banking services with Zap. This service is quite similar to a recent partnership that was also announced by Equity Bank and Safaricom that would enable Safaricom’s M-Pesa […]

  3. May 20, 2010 at 3:35 am — Reply

    i dont understand the m-kesho procedures and how u can get a loan upto 5K and what is the surerity
    and how you can operate it

    Rgards
    Sarah

  4. bob
    November 6, 2010 at 12:54 pm — Reply

    Equity lending to Micro clients is largely without conventional securities.

  5. Kris Wetah
    November 8, 2011 at 11:04 am — Reply

    CAN SECURE AN M-PESA TRANSACTION IN UGANDA, SINCE EQUITY BANK DOES EXIST THERE?THANKS

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