+1-888-308-5802     
News Contact Us

Safaricom & AliExpress to enable M-PESA for online shoppers in Kenya

Author : Shikha Sinha | Published Date : 2019-03-14 

Kenya’s biggest mobile operator Safaricom Plc has reportedly agreed to a partnership with a division of the Alibaba Group Holdings Ltd in a bid to advance electronic payments. 

As per trusted sources, the deal allows Safaricom’s customers to use its mobile-money service called M-Pesa beyond Kenya, since the company is looking launch the system internationally. The company has existing agreements with payment firms such as Paypal Holdings Inc and Western Union Co, reported sources.

According to trusted reports, the partnership will enable Alibaba’s e-commerce service AliExpress’s shoppers to pay for purchases via M-Pesa. The service also targets Kenyan micro-traders who source goods and other supplies from China, stated the company located in Nairobi.

Sitoyo Lopokoiyit, Chief Financial Service Officer at Safaricom, said in a statement that the partnership signifies yet another significant milestone not only for Safaricom’s efforts to take M-Pesa out of Kenya but for Kenya’s place in the international online retail marketplace.

According to Sylvia Mulinge, Chief Customer Officer at AliExpress, mobile money equals 30 percent of Safaricom’s revenue and is estimated to grow 14 percent in the forthcoming fiscal year. Moreover, nearly 46 percent of global e-commerce transactions that take place in Kenya are performed through AliExpress, she added. 

A news report by the CIO states that AliExpress customers selecting M-Pesa as their payment option will have their overall cost shown in Kenyan Shillings along with the usual Lipa Na M-Pesa bill charges applied to each transaction. Shoppers will also be able to use their post box numbers as the delivery address for their orders. The service is already available on the AliExpress app and will be active on the website over the coming weeks, stated the report.

The number of transactions on Lipa Na M-PESA has witnessed continuous growth, with data from Central Bank of Kenya depicting mobile phone as the most favored mode of cashless payments in the country, reported sources.
 

About Author

Shikha Sinha

Shikha Sinha

Shikha Sinha currently pens down content for fractovia.org, a news platform which provides the latest business highlights and industry trends. Shikha also is a contributor on various other online media websites where she writes informative, research-oriented content spanning the retail, healthcare, F&B, and technology sectors. As her first stint in writing, Shikha was an active contributor on Yahoo Voices where she penned down creative and imaginative pieces. She holds a Bachelor of Technology degree in Electrical and Electronics Engineering. She can be contacted at- [email protected] | https://twitter.com/shikhas999

Related News

Clio raises $250 million in a Series D funding by TCV and JMI Equity

Published Date: 2019-09-06         Author: Shikha Sinha

The cloud-based legal technology startup hits a historic mark in future of legal industry with this investment. Clio, a leading legal software company has recently announced that it has bagged US$250 million in Series D funding from American equity firms JMI Equity and TCV. According to sour... Read More

Co-working firm Spacious the latest in WeWork’s acquisition spree

Published Date: 2019-08-29         Author: Shikha Sinha

New York-based co-working business, The We Company, formerly known as WeWork, has today announced its acquisition of rival start-up Spacious. The company, formed three years ago, is focused on converting restaurants closed during the day into efficient spaces for co-working. WeWork is a part of many... Read More

SoftBank in talks to invest $150M in Dailyhunt and $400M in Lenskart

Published Date: 2019-08-27         Author: Shikha Sinha

SoftBank is expected to lead a $250 million round with private equity major Carlyle for Dailyhunt   South American conglomerate Synergy Group also hopes to invest in India’s Jet Airways. SoftBank Group Corp., a Japanese multinational conglomerate, is reportedly in talks to clo... Read More

© 2020 Fractovia. All Rights Reserved