Kenya’s Mobile service provider Safaricom has upgraded its systems to reduce the transaction time that goes through its mobile money transfer service M-Pesa.
The amount of time currently taken will be less than 30 seconds from the previous average of two hours since the firm has upgraded of its Application Programmable Interface (API). Leading banks as well as Saccos have migrated to the new platform and migration is on-going.
The move by the telco has given them an expectation to add on subscribers by the end of the year despite the new introduction of Mobile Virtual Network Operating (MVNO) licence expected to cut across transaction cost to sh7 from sh14.
Customers of mobile banking will be able to transact in real time from any platform linked with the company’s product M-Pesa.