Mpesa Junior Accounts & MPESA Visa Virtual Cards - Safaricom's New Products Set to Revolutionize the market.

Safaricom has introduced plans to release M-PESA Junior Accounts for younger Kenyans between the age of 10 to 18 years. These are people who do not have IDs to sign up Safaricom line however have gotten admission to the community through SIM playing cards registered by their guardians or parents. The improvement turned into found out nowadays with the aid of using Safaricom CEO Peter Ndegwa for the duration of the presentation of the full 12 months effect that ended March 2022.

“We plan to quickly release an M-PESA Junior Product for our youngsters who can also additionally have to get admission to cell phones,” stated CEO Ndegwa.

The provider's cell cash product is its main profit-making challenge because it has been for an ultimate couple of years. Over the length beneath review, for instance, M-PESA sales grew with the aid of using 38 three percent to KES 107.7 billion. The increase is attributed to the halting of free cash transfers for quantities beneath KES 1000 that had been brought with the aid of using the CBK at the peak of the pandemic. The provider provides that enterprise pastime has additionally been conducive for M-PESA way to the stated reason, in addition to the hole of the economic system after the President lifted the COVID-19 curfew in the direction of the quit of 2021. Circling again to M-PESA Junior, Safaricom says that the product is to be released someday earlier than June elapses. Kenya has been tightening its grip on SIM card registration during the last couple of weeks. Customers are being counseled to reverify information about their SIM playing cards as regulators and Telcos circulate in the direction of stamping out, unlawful sports regarding fraudulently registered SIM playing cards. Children also can have SIM playing cards too, however, they ought to be registered the usage of their parents’ or guardians’ identify documents.

At Safaricom’s FY 2022 results (ended March 30), CEO Peter Ndegwa has introduced that the operator will release M-PESA GlobalPay powered through Visa Virtual Cards for global online payments. The card needs to be right here earlier than the stop of June 2022.

“With support from our regional regulators and partners, we are working together to deliver innovative products in a new year such as Visa Virtual Card by M-PESA GlobalPay to support international online payments,” says CEO Peter Ndegwa.