This partnership has placed the PesaPoint network among the largest mobile money and agent banking networks in Kenya with more than 1500 agent outlets, positioning it for strong multi-institutions partnership with banks, financial service providers and mobile money providers.
Currently, PesaPoint runs a multi-stakeholder ATM network that serves about 13 million customers from 32 financial institutions and two mobile money networks (M-PESA and Airtel Money). It also has 1350 existing PesaPoint Agent locations which vend airtime and card cash-out services.
Paynet Group CEO, Bernard Matthewman, said the merged agents network would take advantage of the huge growth and demand for financial services touch points and deliver to Kenyans ‘multiple products and services’ through a single agent network.
“We have the technology to power innovations in POS, mobile and mPOS based agent services for banks, financial services providers and mobile money providers whilst Pep Intermedius manages one of the most advanced agency networks. Our merger with them will bring the right combination of expertise to build and manage the most successful multi-stakeholder agent network for PesaPoint in the country. There is significant potential for this business to grow rapidly both in terms of the number of locations as well as the range of financial service providers it serves,” said Matthewman.
Bernard Matthewman is still Paynet Group CEO and Frederik Eijkman, CEO of Pep Intermedius becomes the PesaPoint CEO to be in charge of the PesaPoint agent network and brand.
“PesaPoint has achieved a number of ‘firsts’ in the market. This is the spirit we continue with in the agent network where we see more innovations coming to the market in partnership with mobile money providers and banks,” said Eijkman.