Stanbic, MTN, and Airtel downplay reports of billions of shillings lost after system interruptions despite temporary suspension of mobile money services.
Pegasus Technologies, one of the leading companies that integrate mobile money transactions between the three firms shutdown down its systems over the weekend, a move that impacted banks to mobile money transactions.
Thousands of employees were unable to move their money from bank accounts to mobile wallets as a result or vice visa. It is unclear whether any money was lost in the process but reports according to the CEO of the East Africa Magazine suggest billions of shillings were lost.
According to the statement, the incident has had no impact on any balances on both Bank and Mobile Money accounts. “Our technical teams are analyzing the incident and will restore services as soon as possible. We apologize to all customers for any inconvenience that this has caused and reiterate our commitment to delivering seamless banking and mobile money services,” the joint statement added.
Established in 2007, Pegasus has over the years gained prominence in the development of financial solutions for companies, emerging as a leading payment services aggregator with vast experience in the development, configuration, deployment, support, and maintenance of financial and billing solutions for businesses and institutions.