What Do We Know About Equity Bank Equitel and Finserve Africa Limited? In the first place, Finserve Africa Limited (trading as Equitel) is a mobile virtual network operator (MVNO) in Kenya. By the same token, it is a wholly-owned subsidiary of Equity Group Holdings Limited. Using the Airtel Kenya network as its services solutions carrier.
Think of it as a Mobile Banking Service Industry. Especially, leading in stocks and competitively edging out across Kenya, Africa, and the outer world. With its lucrative services and solutions support. But is there more to Fineserve Africa Limited? Well, follow this blog to the end and learn more.
What we Know about Finserve Africa Limited
In the first place, the Equitel brand was hailed by Equity Group as the ‘next big thing’ i.e. Equity 3.0. The move was to give Equity Bank the opportunity to continue its mission of furthering financial inclusion. Not to mention, with innovative service offerings for all Kenyans.
By presenting their financial services offering on to a single platform, it makes banking services more accessible. In addition, as a requirement of the general monetary market, flexibility, convenience, and more affordability.
As can be seen, Airtel Kenya on their part stated that the partnership would increase its revenue by up to 10%. For the Bank, the move was aimed at lowering their transaction costs by up to 47%. As well as an added revenue stream by providing money transfer service and other Telecommunication Services to their 8.7 million customers.
About Equity Bank Equitel Line
Equity Bank Equitel is a new revolutionary platform that helps you manage your money and communicate with more Freedom, Choice, and Control. Equitel provides tools and features that enable you to perform all your financial transactions as well as make calls, send SMS and browse the internet.
Equity Bank, through its subsidiary Finserve Africa Limited, received its MVNO Licence on 11 April 2014. Along with Tangaza Money and Zioncell Kenya. All which would run on Airtel Kenya’s network. A move that was opposed by the Consumer Federation of Kenya, Safaricom, and Telkom Kenya.
Equity Bank Equitel Service Options
Due to the requirement to have a SIM card to access the service, users, therefore, need an additional mobile phone or Dual SIM phone. Equity Bank overcame this challenge by adopting the use of 0.1 millimeters thick ultra-slim SIM cards from Taisys Technologies Co. Ltd – Thin SIM.
Using technology originally developed in China. The ultra-slim SIM cards are placed at the back of normal SIM cards. Therefore, tackling this challenge effectively. This ultra-slim SIM cards would also come with Near Field Communication (NFC) capability.
Equally important, that enables them to be swiped on the point of sale devices or ATM. Thus converting a mobile phone into a credit or debit card. As soon as you misplace or lose your card, you should be able to replace it almost immediately through your nearest Equity Bank Service Branch. However, be ready to produce the following original documents for assistance. Including,
- Original ID,
- A copy of your KRA PIN certificate,
- and Ksh.100 for the line.
And, should your line by any chance get blocked, you can DM the Equitel Online Service Team.
What you Need to Know About Taisys
Taisys publishes its Slim SIM Banking monthly transaction volume in China. TAIPEI, Taiwan, January 7, 2015/African Press Organization (APO)/ — Since 2008, Taisys (http://www.taisys.com) had been enabling Slim SIM banking services.
With local banks in China, especially in rural areas where inadequate financial resources are provided. With Taisys Slim SIM technologies, the banks have successfully built up the highly secured “virtual banking network.” Above all, to their customers providing secured access to financial services, replacing the investment in traditional infrastructures.
Of course, that’s why Equity Bank chose to go for their services as well.
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- Appa Blog: Taisys publishes its Slim SIM Banking monthly transaction volume in China
- Wikipedia: Finserve Africa Limited