Equity bank in deal to boost e-commerce

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Equity Group Managing Director, Dr. James Mwangi

In line with Equity’s strategy to drive innovations through e-payments, and in support of government drive on cashless payments to mitigate the transmission of Coronavirus, Equity has inked a deal with Pete’s Café outlets located in Nairobi.

Equity customers will benefit from the offer that runs from 1st April to 30th June for take-away meals and home deliveries as per the set guidelines during this period. Customers are set to benefit as follows;

·       Placing their meal orders with any Equity Card and get free delivery via Glovo.

·       Walk-in for takeout, pay with any Equity Card and get a 10% discount.

The Bank’s business model continues to evolve from a fixed to a viable cost business model leveraging off variable cost 3rd party infrastructure such as merchant banking.

Equity has been successful in this through Universal Point of Sale that converges the mobile wallets, cards, and digital payments. In 2019, Equity recorded a 13% growth in commissions through its wide network of merchants.

The Coronavirus pandemic has seen with it a marked increase in e-commerce. This has come as a result of the need for social distancing as a way of preventing the spread of the novel coronavirus. As opposed to when most Kenyans would resort to e-commerce when purchasing electronics, these unprecedented times have seen most Kenyan buying foodstuffs, sanitary items, and pharmaceutical products.