The huge surge is attributed to a government measure instituted to curb COVID-19 spread by encouraging the use of mobile money payments.
The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.
In response to the economic disruption from COVID-19 pandemic, the Central Bank of Kenya announced a set of directives promoting digital transactions to curb the spread of COVID-19. These directives have significantly impacted the banks and mobile money agencies.
Safaricom announced that all person-to-person (P2P) transactions under KSH 1,000 (≈ $10) would be free starting Tuesday for the next 90 days.