Cash handled by mobile agents surpasses Sh700bn

Cash handled by mobile money agents crossed the Sh700 billion mark for the first time in July. FILE PHOTO | NMG

Cash handled by mobile money agents crossed the Sh700 billion mark for the first time in July, reflecting the full interoperability of mobile money merchant payment platforms and increasing reliance by businesses on digital payments.

Transactions at the agents were recorded at Sh722.5 billion, an 8.6 percent growth from Sh665.1 billion in June, the latest Central Bank of Kenya (CBK) data shows.

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Note: The results are not exact but very close to the actual.