New 'One Equity Till Number’ That Receives Payments from M-PESA, Other Money Platforms Introduced

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Equity Group, which consists of Equity Bank, has introduced a new centralized digital system that enables its customers to receive payments from a variety of mobile money platforms via a single till number.

The digital system referred to as ‘One Equity Till Number’ allows businesses/individuals to receive payments from customers through among others popular mobile money platforms M-PESA, PesaLink, Airtel Money, and Equitell as well as Equity Mobile one till number without needing to have multiple Pay bills/Till numbers.

According to Equity Group, the service is aimed at allowing businesses, both small and large, to collect all their payments directly into their bank account without several transfers.

One Equity Till Number does not limit the amount of money one can receive – and respective business owners can access the cash instantly – free of charge.

Equity says the new centralized digital system will help improve businesses' credit scores, subsequently enabling them to access higher credit facilities from the bank to expand their businesses.

“One Equity Till Number will support micro, small, and medium enterprises around the country to conduct their business conveniently," the bank said, as quoted by Tuko.

The service will also include QR code payments for customers wishing to scan-to-pay from their payment channels, including Equity Mobile App, M-VISA, Masterpass QR, and UnionPay.

The Kenyan market is adapting to changes in the digital payments landscape as it moves to a cashless era.

Equity Group’s latest innovation comes when the bank continues to implement its digitization strategy that has seen its mobile and internet banking channels process 86.8 percent of all transactions as of the third quarter of 2021.

Currently, 98 percent of all Equity Bank transactions take place outside the branch. 

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