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...“By the end of September we will fully launch M-Pesa here....
...That will allow users of Safaricom’s M-Pesa mobile money to obtain virtual credit cards....
...Kenya was a pioneer in mobile payments with the M-Pesa phone-to-phone money transfer system, launched in 2007 and emulated, with greater or lesser success, around the continent....
...The line from social media to fundraising platforms to online banking and mobile payment services such as M-Pesa is short and means help is not an abstract noun but a practical verb....
...M-Kopa Holdings, number 50 on the FT-Statista list, was originally built on the back of the M-Pesa system of mobile money pioneered in Kenya....
...But that assumption was undermined when M-Pesa, one of the world’s first mobile money platforms, emerged in Kenya and was then copied elsewhere....
...Emerging powers have also been quick off the mark with digital payments systems, such as WeChat Pay in China, India’s Unified Payments Interface (UPI), Pix in Brazil or Kenya’s mobile money service M-Pesa...
...The M-Pesa mobile phone money system in Kenya has had more impact than any CBDC pilot. The history of money suggests creating a Goldilocks scheme is going to be difficult....
...M-Pesa allows users to manage business transactions and to pay salaries, pensions, agricultural subsidies and government grants. Last year, there were 52.4mn M-Pesa users in Africa, up from 48.3mn....
...The rising value of fintech companies in Europe and Africa has alerted Vodafone to the hidden value of M-Pesa on its balance sheet....
...For more 20th-century art, I’d visit Museo del Novecento, and I’m also a big fan of Gio Ponti so I’d recommend a trip to the Pirelli Tower....
...There may be innovative ways to circumvent the government, for example by funnelling small payments directly to people on their mobile phones, using the so-called M-Pesa technology pioneered in Kenya....
...We have seen the impact we have had in a country like Kenya with M-Pesa,” he adds, referring to the Kenyan mobile money service. “Today, we are seeing innovation in fintech in Nigeria.”...
...In Kenya, as the app works by transferring credit into a borrower’s M-Pesa account, it can also see the user’s balance and how they have been using it....
...In China, the reserves backing fintech products are held at the central bank; in Kenya, a product such as M-Pesa holds reserves in a trust account....
...Safaricom, focused on the more developed Kenyan market, already generates 30 per cent of its top line from its M-Pesa mobile money unit....
...You can read about how Kenya’s government approached the M-Pesa system of mobile payments; the UK government’s momentary infatuation with behavioural economics; or the earnest efforts of the Mayor’s Office...
...The example that we give is M-Pesa in Kenya, which is now in several other countries, which basically allow people without bank accounts to use their mobile telephone accounts as bank accounts....
...Its M-Pesa service, which allows people to store and send money by phone, has been credited with bringing tens of millions of unbanked people into the financial system....
...In 2007, a telecoms company in Kenya launched M-Pesa, a mobile payments system, to get around the lack of established banking infrastructure in Africa....
...He pointed to Kenya, a country with a $95bn annual gross domestic product, where mobile money operator Safaricom’s M-Pesa — which holds a virtual monopoly — earned close to $790m in revenues in the fiscal...
...Perhaps the best-known modern example is M-Pesa, a mobile payment system first developed in Kenya that allowed millions of people without bank accounts to make cash withdrawals and deposits, transfers and...
...M-Pesa is now in seven countries and has its own QR-based smartphone app....
...The classic example is M-Pesa, the app-based mobile money service pioneered by Kenya-based telecoms operator Safaricom which has attracted 46m active users in seven countries....
...Mobile payments remain relatively rare in Nigeria — roughly 95 per cent of transactions are still done in cash — in sharp contrast to east Africa, where Safaricom’s M-Pesa dominates....
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