Safaricom M-PESA and LakiPay Financial Technologies have announced a strategic partnership to enhance digital payment services in Ethiopia. The collaboration, announced on Monday, integrates M-PESA with LakiPay’s payment gateway, allowing merchants on the LakiPay platform to accept M-PESA payments seamlessly.
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M-PESA, LakiPay: simplified payments, digital growth
The integration of M-PESA with LakiPay’s payment gateway is designed to simplify transactions for merchants and consumers, broaden financial access, and fuel Ethiopia’s rapidly expanding digital economy.
Elsa Muzzolini, CEO of Safaricom M-PESA Mobile Financial Services, emphasised the company’s commitment to empowering businesses and individuals with secure and convenient digital payment solutions.
“This partnership with LakiPay strengthens our efforts to drive financial inclusion and digital transformation in Ethiopia by providing more options for seamless transactions,” she stated.
Habtamu Tadesse, Founder and CEO of LakiPay Financial Technologies S.C., highlighted the efficiency this partnership brings to merchants. “By working together with Safaricom M-PESA, we are enabling merchants to integrate mobile payments into their businesses more efficiently. This partnership is a testament to our shared vision of making digital transactions more accessible and reliable for businesses and consumers alike,” he said.
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Partnership Boosts digital financial services adoption in Ethiopia
The partnership marks a pivotal moment in Ethiopia’s journey toward a cashless economy. By enabling additional payment acceptance points, the collaboration seeks to accelerate the adoption of digital financial services nationwide.
With this connectivity, more businesses may use mobile money, lowering cash use and enhancing customer service.
Safaricom M-PESA aims to accelerate the adoption of digital financial services and support Ethiopia’s national digital economy goals by expanding payment acceptance points.
With this partnership, Safaricom is extending its footprint in Ethiopia’s growing digital economy. It was the first non-Ethiopian telecoms operator to enter the market in August 2022. By the end of 2024, the number of M-PESA users on Safaricom Ethiopia’s network had surged to 10.8 million, up from 3.1 million in December 2023.