Equity has launched a centralized digital payment service that allows businesses to accept payments from customers using Mpesa, Airtel Money, PesaLink, Equitel, and Equity Mobile through a single Equity Till Number.
The technology, which is a first in the Kenyan industry, will allow dealers to receive money without having to sign up for various Paybill/Till numbers.
Equity stated in a statement that the platform will make it simple and convenient for merchants, both small and large, to collect all of their payments directly into their bank accounts instead of having to make multiple transfers from mobile wallets to bank accounts.
Furthermore, the merchant has immediate access to the funds at no cost, and the solution has no limit on the amount of money a merchant can receive.
“The centralized collection account will, in turn, improve their credit score thus enabling merchants to access higher credit facilities from the bank to enable them to expand their businesses,” Equity.
Customers who want to scan-to-pay through their payment channels such Equity Mobile App, M-VISA, Masterpass QR, and UnionPay will be able to do so using the service.
“Businesses will now be able to get the most out of their activities by devoting their time to their clients as the Equity solution simplifies their operational needs from a payment standpoint. One Equity Till Number is simple and interoperable making it very inclusive and in tune with the needs of many businesses.”