Mobile Money Transfer in Kenya

Mobile money transfer in Kenya has changed and transformed lives since its inception.

These days, it is scarce to find Kenyans queueing to get services in a bank. It is quite easy to either deposit or withdraws from one’s bank account.

Moreover, for businesses, one is even able to operate a cashless business because they can receive payments using a mobile money transfer. Today we will discuss the best money transfer in Kenya.

It is now nearly impossible to remember a time when we did not own a phone and have a Safaricom line.

Mobile phones and Safaricom has revolutionized not even different ways to send and receive money, but also our spending habits. It is on this foundation of Mobile money transfer that many unsecured loans creditors have built their businesses.

The latest report from the Central bank of Kenya shows that mobile money transfer has hit Ksh. 2 trillion.

Moreover, there was a 5.6% increase in active mobile money transfer. While translating it to figures per minute, Mobile money transactions in Kenya hit an average of Sh14.93 million per minute.

Mobile money transfer in Kenya


This service allows users to deposit money into an account stored on their cell phones, to send balances using PIN-secured SMS text messages to other users, including sellers of goods and services, and to redeem deposits for regular money.

Users are charged a small fee for sending and withdrawing money using the service. M-Pesa is a branchless banking service that allows customers to withdraw, deposit make payments such as paying bills and buying goods.

Mobile money transfer in Kenya

Moreover, about 27 million people’s lives have been touched by the power of using M-Pesa. It is through Mpesa that Kenyans can access quick and affordable loans without going through bureaucratic bank processes.

This is possible through Mshwari and KCB M-Pesa, which is a partnership between KCB bank and M-Pesa.

More to this, it is through Mpesa that Kenyans have been able to access clean solar energy through M-sola and affordable healthcare insurance through M-Tiba. Of all the total mobile money transactions, M-Pesa still dominates the country’s money transfer.

Mobile money transfer

Equitel Money

Equitel money is a product of Equity Bank. All that is needed is to pick up your equitel line from the bank and then get set up.

It’s worth noting that making your bank transactions using equitel is way cheaper than making transactions over the counter or using an ATM.

Apart from using equitel line, one can also make transactions by downloading the Eazzy App. The App operates the same way as Equitel money.

In the figures mentioned above, about Sh572.24 billion were transacted using equitel money transfer. This makes equitel money the most popularly used mobile money transfer, second to M-pesa.

Airtel Money

Airtel Money is a product of Airtel Kenya.  This is a mobile money transfer method available to all Kenyans who have subscribed to Airtel lines.

Even though at the moment, airtel money does not have a lot of subscribers, some people still use this service to send and receive money.

Sending and receiving money from Airtel to Airtel is way cheaper than using Mpesa. The only issue is that Aitel money shops are not as accessible nationwide as Safaricom Mpesa shops.

Moreover Ksh. 1.37 billion got transacted using Airtel money last year.


T-cash is another mobile money transfer system in Kenya. This is a product of Telkom Kenya. Like the other two mobile money transfers, one needs to have a Telkom line.

Last year alone, T-cash managed to transact sh.190.35 Million. Despite the fact this is the least used mode to transfer money in Kenya, it still works.

Just like airtel money, we do not have many T-cash shops in Kenya as there are M-Pesa shops. T cash enables one to pay bills, buy goods as well as transfer money from one user to the next.

Moreover, one can also be able to transfer money from their T-cash account to a bank account.


Conclusion on Mobile money transfer in Kenya

Mobile money has revolutionized Africa. Apart from just making deposits and withdrawals, most mobile money transfer systems have changed lives. Take, for instance, Safaricom M-Pesa, which has a foundation for helping needy kids to go through education.

Through the introduction of relevant products and services such as M-Shwari and KCB M-PESA, a mobile money transfer system is continuously embracing new business practices aimed at positively impacting the society.

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Mary is one of the leading writers on Urban Kenyans. She is knowledgable on matters Kenya and has been able to educate many Kenyans on this platform.

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