10 years of M-Pesa: The world's most successful money transfer service
M-Pesa (M is for mobile, “pesa” is Swahili for “money”) was launched by Safaricom, Vodafone’s Kenyan associate, on March 6, 2007. The service is designed to safely send receive and store money via a simple mobile phone. The service also allows customers to make bill payments and top-up airtime. In order to use M-Pesa, customers have to register for the service at an authorised agent and deposit cash in exchange for electronic money which they can send to their family or friends. All transactions are secured by entering a PIN number and both parties receive an SMS confirming the transferred...