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InternationalEnjoy your mobile wallet in Kenya!

November 21, 2011

In Kenya, 10 million people are enjoying the latest way to manage money –
mobile wallets. In 2007, Safaricom introduced M-PESA (M for mobile and PESA for money in Swahili). Kenyans use this popular mobile phone service to
send and receive money. Many people in Kenya do not have bank accounts or an
internet connection, but they have mobile phones.

The service is easy to use. A customer registers with an M-PESA agent and
deposits cash. A few minutes later the person receiving the money gets a text
message to come and collect the money at the nearest M-PESA location, usually a
local shop or gas station. These convenient locations allow even rural farmers
to use M-PESA.

M-PESA users don’t need a phone to use the service. They can bring a SIM
card for the agent to put in a phone.

Safety is a big advantage of M-PESA. Kenyans don’t have to carry cash. They can use
their M-PESA account to pay for food or rent. Poor people find it helpful
because they are often the target of crime. In fact, aid groups like World
Concern also use M-PESA to safely deliver money.
For photos at National Public Radio,  click Mobile Money Revolution Aids Kenya’s Poor, Economy .


Published November 2011

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Comments (1)

 

  1. Amanda Johnson says:

    I found this article very interesting. What an innovative way to transfer money and keep people safe. I visited Kenya once, and saw that it was very difficult to move around with any valuables.

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