For the 3rd year in a row, Equity has received this year’s Visa Top Acquirer Award during the Visa 2019 Awards ceremony, recognizing the bank that has recorded the highest Point of Sale (POS) payment volumes in the year.
While receiving the award, Equity Group Director Payments Adeyinka Adedeji, noted that the award came at an opportune time when the bank has embarked on educating customers about the benefit of cashless payments.
“We are indeed delighted to receive the Visa 2019 Top Acquirer Award. The award 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 Q3 results, Equity registered a 35 per cent increase in merchant transaction volumes, from 12.7 million in the third quarter of 2018 to 17.1 million.
The merchant transaction value grew by 27 per cent from sh69.6 billion in the third quarter of 2018 to sh88.4 billion.