Safaricom has partnered with mSurvey to launch Consumer Wallet, a versatile mobile platform that quantifies offline consumer spending habits and trends.
The solution leverages mSurvey's mobile messaging platform to measure and benchmark Kenya's cash economy.
A beta version of the product was piloted in March 2017 with potential clients and corporate partners. mSuvey leverages SMS to measure the cash based spending drawn from Safaricom's mobile subscribers. The data is then fed into the Consumer Wallet database benchmarking preferences and expenditures of various items.
Majority of the country's consumer spending happens at informal businesses, which presents an information gap for businesses looking to explore business opportunities in the sector. Consumer Wallet plugs this gap by providing unprecedented insight into the spending habits of such "offline" consumers.
"Consumer Wallet addresses a pressing business challenge by providing real time collection, assessment and analysis of data. With the world currently undergoing an information revolution, it is essential that businesses in Kenya have the tools that offer the same advantages as those in Silicon Valley," said Sylvia Mulinge, Director - Consumer Business, Safaricom in a press statement.
Consumer wallet will empower businesses with the requisite insights to arrive at more strategic decisions, and with deeper understanding of their customer needs. The service will be available on both a subscription and license basis.