For the third year in a row, Equity has received the Visa Top Acquirer Award during the Visa 2019 Awards ceremony held in Nairobi. The award recognizes the bank that has recorded the highest point of sale payment volumes in the year.
While receiving the award, Equity Group director of payments, Adeyinka Adedeji, noted that it came at an opportune time when the bank has embarked on educating customers about the benefits of cashless payments.
“We are indeed delighted to receive the Visa 2019 Top Acquirer Award. It demonstrates our focus and commitment to providing our customers with top of the market payment channels that are reliable, secure and convenient,” said Adeyinka. Currently, Equity is leading in acquiring and issuing, with more than 20,000 merchants in Kenya alone, offering the best in class payment channel services that are interoperable for merchants.
During its 2019 quarter three results, Equity registered a 35% increase in merchant transaction volumes, from 12.7 million in 2018 Q3 to 17.1 million. The merchant transaction value grew by 27% from Kshs. 69.6 billion in 2018 Q3 to Kshs. 88.4 billion.