Electronic transfers

Little, Ola Energy in a deal to save driver and customer payment transaction costs

NAIROBI, Kenya, August 23 – Over a million customers on Kenya’s super app, Little, have something to smile about.

This follows an agreement between Little and oil trader, Ola, to allow customers to use a convenient payment service called Little Pay, a payment service within the Little SuperApp platform, to purchase various products. tankers and other goods and services sold to Ola.

The solution aims to reduce transaction costs for drivers and other users while strengthening the war on the spread of Covid-19 through the promotion of cashless payments.

“Many of our drivers earn income from cashless and business travel. The money is in the Little Driver account within their Little Driver app. In order for the driver to be able to transact at various merchants, he would have to transfer the money to his mobile money wallet, ”said Kamal Budhabhatti, CEO of Little.

“With Little Pay, drivers do not need to withdraw money from their Little App to purchase services, the new partnership will save many of our drivers and customers on transaction costs related to transfers. electronic funds, ”he added. “We are also in the process of expanding the Fuliza Fuel type of service based on the data we have on our 100,000+ drivers.”

He noted that customers will also be able to pay directly from their bank accounts to merchant accounts using their small wallet or by pairing Visa / Mastercard with the small app.

Kenyans moved 5.21 trillion shillings through their phones last year, equivalent to half of the country’s estimated GDP, boosted by relief measures on cellphone payments to help curb the spread of the coronavirus.

Data from the Central Bank of Kenya (CBK) shows total transactions increased 20 percent from 4.34 trillion shillings the previous year.

This means that an average of 14.27 billion shillings was processed daily on mobile phones between January and December 2020, which is 2.81 billion shillings more than the daily average of 11.91 billion shillings in 2019.

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