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Covid-19 Pandemic Boosted Electronic Payments by 88 Percent- Report

The Covid-19 pandemic has given hope to Small and Medium size enterprises, especially those operating online. Shoppers worldwide have become more adherent of lock-downs and travel restrictions, choosing instead to work and shop remotely.

Covid-19 is reported to be on  a second wave in Kenya. In the last month, more fatalities and a surge in infections have been observed in the country. The numbers surged soon after the Covid-19 protocols were relaxed . Money is said to be one of the fastest means of transmitting the various due to its fast circulation and the shelf life the virus seems to have on paper.

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After the first case of Covid-19 was reported in Kenya on March 12, President Uhuru Kenyatta, in his speech urged citizens to make use of the electronic money options available to curb the spread of the virus. Mpesa waived transaction fees for Sh 1000 and below while banks waived fees on electronic money transfers. Even matatus were urged to accept payment via Mpesa.

Card and Mpesa payments are no longer a preserve of the elite. The Communication Authority Report revealed that Kenya has an 80 percent internet penetration, one of the highest in Africa. The pandemic saw a huge percentage of the population, especially those in the urban areas, order for food and shop for their products online.

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Visa card Covid-19 tracker showed an 88 percent increase in the adaptation of electronic money. A survey by the the Kenya National Bureau of Statistics (KNBS) National ICT committee established that at least 39 percent of private companies have taken up e-commerce.

With the availability of multiple eommerce platforms, online shopping got a boost from the pandemic. Jumia, Jumia Food, Uber Eats, Glovo and other shopping platforms saw a surge in their orders as more merchants signed up to give customers the option of accessing their products online.

Mastercard, Visa, Mpesa and other payment options are available for shoppers making the whole experience contact-less.

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