Equity’s mobile banking App received a minor face-lift a couple of days ago after its older interface grew stale on us. While it kept most of its design elements on the inside intact, the App enhanced a couple of its payment solutions as they can now be found on the homepage under the ‘quick actions’ menu. At the same time, EazzyBanking App incorporated PesaLink in its array of features.
It is noteworthy to realize that Equity Group’s payment solution, EazzyPay, has gained momentum since its inception with up to 29,000 registered merchants as the bank targets e-commerce for growth. The Group’s Half Year Financial Results noted that the platform transacted over KES 2 billion, 9 months after launch. According to Kenya’s Communication Authority (CA), EazzyPay accounted for 30 per cent of mobile commerce, which is to say that customers are actively adopting the solution for e-commerce purposes like payment of bills, goods and services.
Another notable milestone is that the product registered over 545,000 transactions as of June 30, 2017, and conducts KES 320 million worth of transactions every month. Evidently, this phenomenal growth and impressive numbers can be attributed to the fact that you can get access to EazyPay from the EazzyBanking App. For the App to work, all you need is an Equitel line/ATM Card for verification purposes. If you use Kenya’s other operators, you can still remove your Equitel SIM and plug in your primary card like I did – and the App works just fine with mobile data or wireless connections.
EazzyPay is also available on Equitel Line SIM menu if a smartphone/EazzyBanking App is not your cup of tea. Either way, transactions are free (FREE…), and users can send up to KES 1 million to other Equity Bank accounts for free. It should also be remembered that it works just like any other mobile operator (making calls, sending texts and surfing the web) and two years after its launch, Equitel accounts for about 25 per cent of the mobile money market share that is dominated by Safaricom’s M-PESA.
What’s more, the CashBack feature allows users to withdraw cash as they pay for goods and services at merchants who have the CashBack sign and accept EazzyPay.
By the way, EazzyBanking App is equipped with social media payments. For instance, a customer can send cash to as WhatsApp user. This can be done right from the App’s homepage where you select a contact, enter the amount you need to send and receive a confirmation dialogue indicating the success of the transaction. Afterward, you will be redirected to WhatsApp to select the contact in question. Then, just hit the send button. On the other end, the recipient will receive a cash code that he or she would need to withdraw the money from the nearest Equity Bank Agent.
EazzyPay has been plugged into several stores, billing company sites such as Kenya power, retail stores, filling stations like Shell and National Oil, airline sites such as KQ and Jambonet, online portals like ecitizen, to mention a few. These strides have been made to spur growth in money transfer while giving customers a convenient and flexible platform to manage their bank accounts.