Mobile cash posts largest drop in August

Mobile payment have continued to rise at the expense of plastic cards. file photo | nmg

Mobile payments in August posted the largest month-on-month drop this year, coming after intensive political campaigns in July.

Latest Central Bank of Kenya data shows cash transacted through mobile money channels dropped by Sh22.55 billion, or 7.3 per cent to Sh286.34 billion compared with Sh308.89 billion in July amidst reduced business activity on political uncertainty.

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