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M-PESA (M for mobile, PESA is Swahili for money) is a mobile phone-based money transfer service, payments and micro-financing service, launched in 2007 by Vodafone and Safaricom, the largest mobile network operator in Kenya. [1]
M-PESA (M for mobile, pesa is Swahili for money) is a mobile phone-based money transfer, financing and micro financing service, launched in 2007 by Vodafone for Safaricom and Vodacom. M-PESA was originally designed as a system to allow microfinance-loan repayments to be made by phone, reducing the costs associated with handling cash.
Kenya's leading telecom firm Safaricom <SCOM.NR> and South Africa's Vodacom <VODJ.J> said on Monday that they had completed the acquisition of popular mobile money platform M-Pesa from Britain's ...
By February 2008, the M-PESA money transfer system in Kenya had gained 1.6 million customers. [212] By 2011 there were fourteen million M-Pesa accounts by which held 40 percent of the country's savings. [213] Following M-PESA's success in Kenya, Vodafone announced that it was to extend the service to Afghanistan. [214]
Michael Joseph (businessman) Michael Joseph is a South African businessman. He is currently Chairman of Kenya Airways, a position he has held since October 2016, and also chairs the Safaricom PLC board, having been appointed in August 2020. He was previously the CEO of Safaricom from July 2000 to November 2010, [1][2][3] as Founder and CEO, and ...
In 2009, GSMA made a grant to Safaricom to support the development of a social transfer payment project via M-Pesa. M-PESA was developed by Vodafone and first deployed by its Kenyan affiliate Safaricom. In May 2012, there were over 15 million customers of M-PESA in Kenya.
Reflecting the importance of m-Commerce, in April 2012 the Competition Commissioner of the European Commission ordered an in-depth investigation of the m-Commerce joint venture between Vodafone, O2, Orange and T-Mobile. [10] A recent survey states that 2012, 41% of smartphone customers have purchased retail products with their mobile devices. [11]
In 2010, Moore and Hughes, with banker Chad Larson founded the start-up in Nairobi that became M-Kopa the following year. [5] Hughes previously set up and ran M-Pesa at Vodafone, a mobile phone-based money transfer, financing and microfinancing service, where Moore also worked whilst completing his MBA. [6]
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