Through the Safaricom super app that was recently launched, mobile money users will now be able to ask for money from friends, family or people who owe them money.
M-Pesa users on the app will also send money to multiple users of the mobile service, pay for insurance and buy tickets for bus, train and concerts through an app that can be accessed without internet. The consolidation of several services on the app is what coined the term ‘super-app.’ So far, the app is living up to its hype.
M-Pesa allows users to send and receive cash, and pay for goods and services even on basic feature phones has been a turning point in Safaricom’s journey, making it one of the most profitable and successful Kenyan companies. Apart from this, Safaricom has carved out an entry point into the Kenyan FinTech space, and blazed a trail for FinTechs in Kenya, and the world over.
The telco is also seeking commercial launch of three products dubbed Bima (Insurance), Mali (mobile savings) and a unit trust investment product.
This is part of efforts to grow the mobile money platform beyond sending and receiving cash, tapping loans as well as paying for goods to include insurance and wealth management.
Users will now also be able to send money to multiple users through a single transaction. The app will allow users to select different recipients from the phone book, transfer similar or different amount of money and authenticate at one go with PIN or use of biometric.