Safaricom Introduces M-PESA Payments Service on Amazon
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- May 17, 2021
Kenya’s leading telecommunications network company Safaricom and American e-commerce company Amazon partners to introduce M-PESA payments to customers purchasing on Amazon platform.
The announcement was made by Safaricom CEO Peter Ndegwa during the release of 2021 FY results.
The partnership is to increase the use of M-PESA and to solve the payment crisis to Kenyan customers using the online shopping platform when paying for items.
The bid is also to boost it’s M-PESA earnings following the revenue drop during the 2021 full year.
Over 35 Million Kenyans rely on Safaricom products, services and solutions hence the need to ensure the Network is stable
In February 2020 Safaricom and Amazon Web Services (AWS) partnered to facilitate business growth to provide easy access to technologies such as Big data, internet of things, Machine learning and artificial intelligence.
In March 2020 Safaricom removed transaction charges upto KShs 1,000 for the remainder of the year, which was later restored back in January 2021 with transaction charges cut by 45 percent. The move was to reduce spread of COVID-19 through utilizing cashless transactions.
This has led to profit decline in 2020/2021 FY results, the company revenue declined 2.1 percent to KShs 82.64 billion in the year that ended March 2021.
Safaricom also partnered with China’s Alibaba Group Holdings LTD. and PayPal Holdings LTD.
