Commerce

Equity unveils centralised payment solution for traders

Wednesday, January 19th, 2022 09:13 | By
Equity Group chief executive officer and managing director James Mwangi. Photo/PD/ FILE

Equity Group has introduced an integrated digital payment platform from where merchants can receive payments from multiple payment channels through a single till number.

A first in the Kenyan market, the solution dubbed “One Equity Till Number” will enable merchants to receive payments from multiple payment channels or mobile wallets through a single till number.

The service will also include QR code payments for customers wishing to scan-to-pay from their payment channels including Equity Mobile App, M-Visa, Masterpass QR and UnionPay.

Equity Group chief executive JamesMwangi (pictured) said the One Equity Till Number platform will make it easy and convenient for merchants, both small and large business, to collect all their payments directly into their bank account.

Several transfers “They will do this without having to do several transfers from mobile wallets to bank account, since there is no limit to the amount of money a merchant can receive,” he added.

Mwangi said the centralised account will not attract any charges, rather enable merchants to improve their credit score and access higher credit facilities from the bank to enable them to expand their businesses.

“The service will offer freedom and convenience to customers, who will now have a simple and instant payment solution irrespective of the mobile payment channel used.”

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