Tag: mobile money

Safaricom goes digital with the launch of M-pesa smart card

Safaricom goes digital with the launch of M-pesa smart card

Technology
Kenya’s largest mobile service provider, Safaricom, has launched the much anticipated M-Pesa payment cards which was unveiled during the announcement of the Safaricom FY Results, 2017. The Safaricom smart card looks more like the Debit and Visa Cards but the functionalities are not the same . The card allows  for payment of services and goods instantly. Dubbed M-Pesa 1 Tap, this payment solution package includes a Wrist band and NFC badge. First launched successfully as a Pilot in Nakuru, M-Pesa 1 Tap will be rolling out country-wide with about 500,000 point of sale (POS) payment points in bars and restaurants, retail shops, fuel stations, among others. This is going to change everything. The M-PESA Card is linked to a user's M-PESA account. Therefore, before using the M-PESA Card
Why Kenyans Rely On Mobile money Services

Why Kenyans Rely On Mobile money Services

Mobile
PAYING for a taxi ride using your mobile phone is easier in Nairobi than it is in New York, thanks to Kenya’s world-leading mobile-money system, M-PESA. Launched in 2007 by Safaricom, the country’s largest mobile-network operator, it is now used by over 17m Kenyans, equivalent to more than two-thirds of the adult population; around 25% of the country’s gross national product flows through it. M-PESA lets people transfer cash using their phones, and is by far the most successful scheme of its type on earth. Why does Kenya lead the world in mobile money? Before we look into the intricacies of this question, it is apparent that the Kenyan economy is deeply integrated with Mpesa services and in extension, our lives in general. In order to assess the depth of this dependence, there is need t
Safaricom announces MPesa app for smartphones

Safaricom announces MPesa app for smartphones

Technology
To further increase the convenience of it's mobile money service M-PESA, Safaricom has announced a number of initiatives as it continues to extend the gains of M-PESA ten years after its launch in Kenya. Safaricom recently announce the availability of M-PESA functionality in the mySafaricom App, which will see the more than 24 million M-PESA customers and especially the 8m smartphone owners enjoy the convenience of transacting from their Android and iOS smartphones. The Mpesa app enables customers to select contacts from their phone when sending money and has a vastly improved implementation of the name search function Hakikisha — which allows the sender to confirm the recipient before the money is sent. Additionally, Safaricom will implement a 50% tariff reduction for all Lipa Na M-PE
Vodafone marks 10 years of the world’s leading mobile money service, M-Pesa

Vodafone marks 10 years of the world’s leading mobile money service, M-Pesa

Mobile, Technology
After 10 years of progression in the mobile money service, Vodafone finally marked the 10th anniversary of M-Pesa as the world’s leading service on February 21. According to Tech Moran, it was revealed that a record 614 million M-Pesa transactions were processed during December 2016 as it now offers M-Pesa services in 10 countries. As of the end of December 2016, M-Pesa served almost 29.5 million active customers through a network of more than 287,400 agents.  During 2016, the service processed around 6 billion transactions, peaking in December 2016 at 529 transactions every second. M-Pesa, launched by Vodafone’s Kenyan associate, Safaricom, on 6 March 2007 is designed to enable customers safely and securely to send, receive and store money via a basic mobile phone and, more recently in
Digital technology aiming to empower small-farm owners in east Africa

Digital technology aiming to empower small-farm owners in east Africa

Mobile, Technology
Mastercard has launched a new digital marketplace for east Africa farmers to sell their crops and receive payment via their mobile telephones named 2Kuze. The new technology works with existing mobile money systems like M-Pesa to facilitate transactions between farmers, agents and banks. The World Bank’s Consultative Group to Assist the Poor (CGAP) estimates there are roughly 500 million farming households across the world that fall under the category of “smallholder” made up of no more than a few hectares of land, and run primarily by family members. According to how we made it in Africa,The new innovation capitalises on the widespread use of mobile phones across Africa to conduct peer-to-peer monetary transactions, Mastercard says, and the programme is intended to increase farmer