Faras launches Kenya's first in-app wallet for ride-hailing

One of the standout features of the wallet is automatic fare settlement at the end of each trip, removing the need for negotiation and minimizing tension, particularly during peak hours or in unfamiliar cities.
The innovation,set to transform Kenya’s digital payments landscape, dubbed the Faras Wallet, is the first of its kind in Kenya’s ride-hailing industry.
Faras General Manager Allan Maimbu, speaking to the press, described the development as “a game changer aimed at improving trust and easing movement within cities.”
He noted that the wallet was designed to address longstanding friction points between drivers and customers, particularly around fare payments.
“We looked at the friction points that exist in the customer-driver interaction, especially around fare payment,” Maimbu said. “The wallet resolves a number of issues including fare disputes, lack of change, and mobile money transfer charges.”
One of the standout features of the wallet is automatic fare settlement at the end of each trip, removing the need for negotiation and minimizing tension, particularly during peak hours or in unfamiliar cities.
“It increases accountability,” Maimbu added. “Both parties know the system handles the payment — no disputes, no surprises.”
Beyond convenience, the wallet also serves as a financial planning tool. Riders can preload funds and track monthly transport expenses, a feature Maimbu says has been particularly useful for daily commuters.
“Many of our customers are using this to manage their transport budgets, especially those who rely on Faras for work or school.”
Another key advantage is the elimination of cash handling. Riders are no longer required to carry loose change or navigate mobile money fees, which can accumulate over time.
“This is about streamlining the experience,” Maimbu said. “Customers save on fees and enjoy greater peace of mind.”
The Faras Wallet is integrated with Faras Miles, the company’s loyalty program, allowing users to convert earned points into wallet credit. “We’re rewarding loyalty in a practical, tangible way,” he noted.
Drivers are also reaping significant benefits from the system. Commissions are automatically deducted from each wallet-paid trip, eliminating the need for manual settlements.
This has proven especially valuable for drivers operating under credit limits, enabling them to continue working uninterrupted.
“Drivers can also access their earnings in real time, which helps with day-to-day financial planning,” Maimbu explained. “It removes the uncertainty around payments and ensures drivers are not chasing after fares.”
Following a successful soft launch, the wallet has already seen strong adoption among riders and drivers in Nairobi. Faras plans to expand the service to other urban centers in the coming months.
“The Faras Wallet is more than a payment solution,” Maimbu concluded. “It’s a new approach to urban transport — efficient, cashless, and designed for the everyday realities of riders and drivers in Kenya.”
The launch positions Faras among a growing number of African tech firms leveraging digital wallet solutions to improve user experience, as cashless transactions become increasingly central to urban mobility across the continent.
The company has touted the wallet as a faster and easier way for customers to enjoy cashless rides, which solves plenty of bottlenecks brought cash payments.
To enjoy the Faras Wallet experience, customers can follow these simple steps to load their wallets with funds.
1. Open the Faras App – Launch the Faras application on your smartphone.
2. Tap on the Wallet Icon – This is usually located at the bottom or top-right corner of the app interface.
3. Select ‘Top Up Wallet’ – Choose the option to add money or top up.
5. Choose Payment Method – Select your preferred payment method (e.g., M-PESA). 6. Follow the Prompt – A payment prompt will be sent to your phone. Enter your M-PESA PIN to authorize the payment.
Want to send us a story? SMS to 25170 or WhatsApp 0743570000 or Submit on Citizen Digital or email wananchi@royalmedia.co.ke
Comments
No comments yet.
Leave a Comment