Payment of goods and service through the mobile money transfer platforms hit Ksh692 Billion in the three months to June, the latest sector statistics report by Communications Authority of Kenya (CA) indicates.
The value of Ksh692 billion is quite significant compared to Ksh102 billion in December 2015, when the industry regulator first captured these statistics in its quarterly reports.
The number of mobile commerce transactions stood at 316.5 million. Person to person transfers were valued at Ksh541.8 billion.
The report covering April/June 2017, indicates that the number of mobile money subscriptions stood at 28.0 million while the number of agents was registered at 180,657.
During the quarter under review a total of 480.5 million transactions (withdrawals and deposits) valued at KSh. 1.2 trillion were made.