Equity in partnership deal with Safaricom

Any M-Pesa user can access their money from any Equity Bank ATM

Receiving money from your mobile phone is set to become easier, with the new partnership between mobile phone service provider Safaricom’s money transfer service M-Pesa and Equity Bank.

In the new deal, any M-Pesa user can access their money from any Equity Bank ATM outlet at any time, anywhere across the country.

“This will see greater convergence between the banking sector and telecommunications industry, as we seek to deliver more convenience and quality services to customers,” said James Mwangi, chief executive of Equity Bank.

In the new arrangement, the bank will act as an M-Pesa agent, much like PesaPoint already does with its ATM’s.

Customers in Kenya, Uganda and as far away as South Sudan, will enjoy this access to their own money without the need for a bank account or an ATM card, with only the ATM machine and their mobile phones acting as the interface.

“With Equity having over 550 ATM outlets in Kenya alone, the M-Pesa service has now gone 24 hours, and this year we can expect more products between our two companies,” said Mr Michael Joseph, Safaricom’s chief executive officer.