That was the reality of now that it was limited or stunted with the banking led initiative to replicate Mpesa
. That is why the CBN granted licences to Mobile Money operators and other institutions if they meet certain criteria to help improve financial inclusion.
GTB retains its #1 posi- tion as the Most Admired African Brand, while Mpesa
remains the standard for mobile money brands.
They cut across the entire socioeconomic spectrum of customers, from the smartphone wielding executive in Dubai using Apple Pay to pay for her skimmed milk latte, to the taxi driver in India who accepts payment for his fare on his PayTM app to the university student in Nairobi who receives monthly remittances from his brother via mPesa
Further, he said, WIBC will serve as a platform for no less than 8 unique intelligence reports, panel sessions focused on financial services innovations such as Mpesa
, Bitcoin and Crowdfunding, and a session on woman leaders in Islamic finance - among other features.
We expect innovation in financial services to flourish once the mobile payment platform has attracted a large enough customer base, which may explain why the MPESA
platform is the most advanced in this respect.
service recorded mobile money revenues of more than $330m in the latest financial year, making it the most successful mobile or online money transfer service worldwide.
The social and economic impact of MPESA
on the lives of women in the fishing industry on Lake-Victoria.
With M-PESA, one need not get away from work to enjoy free time; MPESA
brings leisure to people right where they are.
"The ground-breaking Kenyan mobile money service Mpesa
grew precisely because there were very limited rules to regulate it.
The money can be withdrawn from any MPesa
location in Kenya at any time."
Donations were made through SMS on the mobile money payment system, Mpesa
. The campaign dubbed #FeedKe went viral on social media just within a few hours.
Mobile money, using telecom networks for cash and value transfers, called MPesa
, is an increasingly large component of the Kenyan financial sector.