M-PESA and Chapa Enter into Partnership for M-PESA Services Integration
December 06, 2023
ADDIS ABABA, Ethiopia, 6 December 2023 -/African Media Agency(AMA)/-Safaricom M-PESA Mobile Financial Services PLC and Chapa Financial Technologies Share Company have entered into a partnership agreement to provide M-PESA services for entrepreneurs, businesses, and government services on Chapa’s payment aggregator platform.
The partnership aims to boost the ease of transactions for both merchants and M-PESA customers in the Ethiopian market.
Through this agreement, merchants using Chapa’s payment gateway system can receive payments from Safaricom M-PESA customers. Simultaneously, M-PESA customers can make quick and secure payments to merchants on Chapa’s checkout.
“Chapa is one of the rapidly growing payment system operators in Ethiopia and partnering with them complements our goal of making M-PESA available everywhere. The digitization process in Ethiopia has picked up momentum and such partnerships further enhance the ease with which people make their transactions,” stated Paul Kavavu, General Manager of Safaricom M-PESA Mobile Financial Services PLC.
Chapa, on the other hand, sees this partnership as an opportunity to expand its customer base and provide a broader range of payment solutions to its merchants. Moreover, becoming a merchant with Chapa involves a streamlined, fully online onboarding process, ensuring ease and convenience every step of the way.
“M-PESA has been received warmly here in Ethiopia as demonstrated by its onboarding of over a million customers in its first three months. Partnering with them allows merchants using our payment gateway to easily transact with this rapidly growing customer base. Therefore, the partnership helps both parties grow together while empowering entrepreneurs and businesses,” remarked Chapa’s Co-Founder and CEO, Nael Hailemariam.
Safaricom M-PESA and Chapa are committed to providing efficient and accessible payment solutions to users. The partnership is expected to create more opportunities for customers of both M-PESA and Chapa, ultimately leading to a better customer experience and more significant progress towards financial inclusion.
Safaricom M-PESA Mobile Financial Services PLC, a subsidiary of Safaricom Ethiopia, received a Payment Instrument Issuer License from the National Bank of Ethiopia in May 2023 and went operational in August 2023. M-PESA provides quick and easy financial services to anyone with a mobile phone. You do not need a bank account to use M-PESA, just a Safaricom SIM card!
About Chapa
Chapa is a leading payment solution provider dedicated to revolutionizing digital payments in Ethiopia. By offering seamless and secure payment experiences, Chapa empowers businesses and merchants to connect with their customers effortlessly. With a strong commitment to financial inclusion, Chapa is driving the transformation of Ethiopia’s digital economy.
