Equity Bank challenges the M-Pesa’s monopoly
from MARIA MACHARIA in Nairobi, Kenya
NAIROBI – EQUITY Bank, in a move aimed at extending to customers mobile telecommunication services approved by Communications Authority of Kenya, will begin issuing a ultra-thin mobile banking smart SIM cards with patented technology from Taisys.
Through the development, bank customers can now enjoy funds transfer,
micro-payments and other mobile financial services that are agnostic
across mobile devices, including traditional basic-feature phones using
Taisys’s “mBanking” and “duoSIM”.
Chief Executive Officer of Taisys, Jason Ho, expressed optimism in
Kenya’s market potential.
“With a population of 40 million, and 14 million mobile money users, Kenya
is a mature market with users familiar with mobile financial services.
Taisys sees this as a great impetus for growth in mobile banking,” he
He viewed Taisys’s collaboration with Kenya’s largest bank as a strategic
partnership to expand the offering of mobile banking services, and
providing such services to a wider population in Kenya.
Equity Bank is determined to challenge the M-Pesa’s monopoly in this area.
By adopting duoSIM technology, Equity Bank can now provide an alternative mobile banking and mobile money solution to consumers.
– CAJ News
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