Published January 2017
This is a quick picture taken while working in Kenya. They have a very different way of doing business there. I love their advance payment system done on cell phones, called M-Pesa. WELL DONE, KENYA!
What is it?
(M for mobile, pesa is Swahili for the word money). Basically, it is a mobile money transfer system used everywhere, more than cash.
The system started in 2007 by the company Vodafone for Safaricom (who I have also had as a client) and Vodacom (also a client in SA).
Apparently the system is in South Africa too (nowhere to be seen), and elsewhere in the world.
Using their phones, M-Pesa allows people to deposit money into an account (another person’s cell phone), linked by sim-card / phones, and the transaction is completed by using the PIN-SMS text messages sent by the network. Users are charged a small fee for sending and withdrawing money.
About 17 million M-Pesa accounts are registered in Kenya, a country with 45 million people.
Published January 2017Read more articles