• Latest
  • All
  • How To
equity

Equity Bank’s Mobile Point of Sale Redefining How Kenyan Customers Make Payments

October 29, 2014
BURN Secures $5 Million to Bring Clean Cooking to Kenyan Homes

BURN Secures $5 Million to Bring Clean Cooking to Kenyan Homes

May 17, 2025
Safaricom Quickmart partnership

Safaricom 4G and 5G Routers Now Available at Quickmart Stores

May 17, 2025
SEACOM tech student programs

SEACOM Brings Learning to Life for Tech Students

May 17, 2025
Safaricom 5G for Business

How Safaricom 5G is Revolutionizing Enterprise Connectivity

May 17, 2025
DHgate Tablet Cases deals
KEMIS

KEMIS: Kenya’s New Education Data System Set to Replace NEMIS in 2025

May 17, 2025
White Genocide

Grok AI Goes Off the Rails with Bizarre Conspiracy Responses

May 17, 2025
Google One

Google One Hits 150 Million Users, Thanks to AI Premium Plan

May 17, 2025
4K video uploads X

Say Hello to 4K Video Uploads on X

May 17, 2025
openai-chatgpt

ChatGPT Will Soon Be Able to Record, Transcribe & Summarize Meetings

May 17, 2025
Telegram

Telegram Shuts Down $35 Billion Crypto Black Markets

May 17, 2025
Peak Points

AI Will Now Help YouTube Choose the Perfect Moment for Ads

May 17, 2025
Safaricom-IXAfrica-Centres-1

Safaricom Partners with iXAfrica to Build Region’s First AI-Ready Data Centre

May 17, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Equity Bank’s Mobile Point of Sale Redefining How Kenyan Customers Make Payments

Oscar Adika by Oscar Adika
October 29, 2014
in News
Reading Time: 2 mins read
253
0
equity

Equity Bank CEO, Dr. James Mwangi

A Mobile Point of Sale Demo
A Mobile Point of Sale Demo

Point of sale (POS) is business term used for the spot where a retail transaction takes place, the place where money changes hands. Back in the day when growing up most payments used to be made by cash or check and kiosk owners, shopkeepers and supermarkets stored the money in a cash drawer or box. A new innovation came along – the cash register. First invented in the 1870s, the cash register was a mechanical way to keep track of revenues and was the first POS system.

Then came the bar code. Another POS innovation. First launched in in 1974, bar codes began to be stamped on almost all retail items. Merchants used scanners to read these codes and process sales more quickly and accurately. Over the years this became a-must-have technology for retailers and most supermarkets added a few more gadgets to speed checkout lines, including card swipe devices for accepting credit and debit cards.

Wireless computer networks, a new technology which could send radio waves through the air to transmit data, was the dealmaker which allowed POS systems to go mobile. In Kenya, mobile networks have proved not only beneficial in supporting mobile communication but also in facilitating mobile financial services as well. On Monday 21st April 2014, Equity Bank announced it will distribute 300,000 NFC-enabled smartphones free of charge to supermarkets, restaurants, kiosks and barbershops as it seeks to boost income from the payments processing business.

Equity Bank CEO, Dr. James Mwangi
Equity Bank CEO, Dr. James Mwangi

“Our new MasterCard ATM cards are ‘tap-and-go’ hence the need to put mobile PoS devices with merchants to process payments,” said Equity Bank chief executive James Mwangi. “The NFC-enabled phones and cards will help Equity Bank be well positioned to significantly increase volumes and commission from payment processing.”

Besides being a crucial tool for retail stores, mobile POS can also be useful especially in collecting cash in the field. As Kenya’s public transport goes cashless by July 2014, Equity has been aggressive in marketing its BebaPay card which allows for a cashless “tap and pay” service for matatu commuters. Equity’s race for a piece of the lucrative retail payments is in stiff competition with Safaricom, which has been issuing M-Pesa pay-bill numbers to retailers under the Lipa Na M-Pesa service to facilitate cashless transactions.

Though some have concerns about the security of wireless transactions, both consumers and merchants may benefit from the availability of mobile POS. Retailers and service companies can make employees more productive and lower labour costs. A restaurant, for example, customers and waiters can save considerable legwork with fewer trips to the cash register with payments being made right  at the dinner table. Also, accuracy is increased by eliminating written orders. Customers may receive speedier service and error-free, detailed receipts on the spot.

Tags: Equity BankLipa na M-PESA
SendShare147Tweet92
Oscar Adika

Oscar Adika

Oscar is a technology journalist writing for Techweez. Covers disruptions and innovations in mobile and how that changes the face of the Africa continent. Stay in touch via Twitter on @Oscar_Adika

Related Posts

Equity bank and Mastercard Customer Business Agreement

Cross Border Payment: Equity Bank and Mastercard Join Forces

October 5, 2023
Central Bank of Kenya Kenya Quick Response(QR) Code Standard 2023

Kenya Launches QR Code Standard: What You Need to Know

May 3, 2023
Equity Bank to M-PESA, Airtel Money Charges for 2023

Equity Bank Introduces Mandatory Fee for SMS Alerts

April 26, 2023
Equity Bank to M-PESA, Airtel Money Charges for 2023

Equity Bank to M-PESA, Airtel Money Charges for 2023

February 16, 2023
You Can Now Link Paypal to Equity Online and Equity Mobile App

You Can Now Link Paypal to Equity Online and Equity Mobile App

December 23, 2022
Equity Bank Picks New COO from Uganda Arm

Equity Bank Picks New COO from Uganda Arm

November 21, 2022

Latest

BURN Secures $5 Million to Bring Clean Cooking to Kenyan Homes

BURN Secures $5 Million to Bring Clean Cooking to Kenyan Homes

May 17, 2025
Safaricom Quickmart partnership

Safaricom 4G and 5G Routers Now Available at Quickmart Stores

May 17, 2025
SEACOM tech student programs

SEACOM Brings Learning to Life for Tech Students

May 17, 2025
Safaricom 5G for Business

How Safaricom 5G is Revolutionizing Enterprise Connectivity

May 17, 2025
KEMIS

KEMIS: Kenya’s New Education Data System Set to Replace NEMIS in 2025

May 17, 2025
White Genocide

Grok AI Goes Off the Rails with Bizarre Conspiracy Responses

May 17, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

BURN Secures $5 Million to Bring Clean Cooking to Kenyan Homes

May 17, 2025

Safaricom 4G and 5G Routers Now Available at Quickmart Stores

May 17, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

Introducing A Brainbox Quiz: Techweez’s Monthly Trivia Night!

5 Most Reliable Virtual Dollar Card Providers in Nigeria

More News

Google One Hits 150 Million Users, Thanks to AI Premium Plan

Say Hello to 4K Video Uploads on X

ChatGPT Will Soon Be Able to Record, Transcribe & Summarize Meetings

Telegram Shuts Down $35 Billion Crypto Black Markets

AI Will Now Help YouTube Choose the Perfect Moment for Ads

Safaricom Partners with iXAfrica to Build Region’s First AI-Ready Data Centre

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.