KDN sets up mobile and internet payments gateway with MobiPay.
Everyone it seems is trying to get in on the opportunity to become a major player in the fast growing mobile and internet payments space in the greater East African region. Over the better part of the last six months, a variety of different businesses spanning start-ups to a well established regional bank have announced their own unique offerings. In many of these cases, each offering is either based on more traditional payment channels like credit and debit cards or more market relevant mobile payment systems that work online. In the case of the latter, the big draw is that in Kenya alone there are over eight million M-Pesa customers moving millions of dollars in transactions every month. A small slice of this market alone would make big business sense.
In the course of this week, Kenya Data Networks (KDN) is the latest company that announced it was entering the mobile and internet payments business. Their offering to be known as “MobiPay” goes a step further by consolidating a variety of stakeholders and channels including internet, mobile, proximity, credit cards, banks, merchants and consumers. This basically means that MobiPay will act as an ecosystem that takes care of all the complex integrations and interfaces for mobile and internet based payments. KDN has also confirmed that MobiPay will work with both Safaricom’s M-Pesa and Zain’s Zap mobile money services from inception in around two months time. KDN’s ambition is that MobiPay will become the defacto internet and mobile payments gateway not only in Kenya or East Africa, but across Africa.