Kenya Posta Launches Its $1 Million Posta Pesa Service | Is It Another Kenyan Hype?

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Dr. Fred Matiang’i, the Cabinet Secretary, Ministry of ICT makes a transaction using Posta’s newly launched e-payment system dubbed Posta Pesa.Finally as announced, the Kenya Posta has launched its $1 Million Posta Pes, an e-payment platform that will see financial institutions share payment infrastructure and capitalise on Kenya Posta’s expansive network of over 600 offices that will offer Agency services.

Posta pesa enables points of sales solutions, transaction switching, mobile commerce and remote banking through internet banking.

The e-payment system is expected to enable the organisation become the preferred national payment gateway.

Nairobi is known for hype, while entrepreneurs in countries like Nigeria are designing and assembling computers and tablets locally and competing with international and Chinese brands, Kenya still uses imported ERP and accounting softwares such as Sage Pastel and prides of M-PESA, a British-build technology.

Posta Pesa, according to Dr. Enock Kinara, the Post Master General will enable the organisation conduct agency banking, mobile money transfer, card based transactions, e-commerce, online disbursements, epayment of utility payments and e-ticketing.

Besides linking banks’ Automated Teller Machines (ATMs) and Point of Sale (POS) terminals in order to avoid the duplication of expensive infrastructure resources, Posta Pesa will the firm automate its payment services.

The service is part of the firm’s strategic plan to realign operations and prop up its “profit-centres in order to realise growth in its revenues from Ksh3.5 billion to Ksh4.5 billion; from Ksh4.5 billion to Ksh6.5 billion and from Ksh6.5 billion to Ksh9 billion in years one, two and three respectively  and hit a cumulative target of Ksh20 billion.

Early Posta Pesa clients include KCB, Credit Bank, ABC Bank and Faulu Kenya  and the firm is looking to sign up utility companies like Kenya Power, Nairobi City Water and Sewerage Company and DStv among others who already use its remittance services.

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Speaking during Posta Pesa launch, Dr. Fred Matiang’i, the Cabinet Secretary, Ministry of ICT said,“With such a robust shared infrastructure and CBK’s planned National Payment System integration, I believe Posta is best placed to be the umbrella payment gateway that will integrate all payment platforms to allow for interoperability and boost e-commerce in the region.”

“Already my ministry has contacted the Universal Postal Union to work with a national committee that my ministry has constituted to develop a master plan that would guide the modernization of the Kenya Post,” added Dr. Matiang’i.