Tag: mpesa

Mobile money competition rises with the introduction of Visa payment service

Mobile money competition rises with the introduction of Visa payment service

Technology
Kenya is one of the most attractive markets for mobile money because of the success of Mpesa, launched by Safaricom, which is 40 per cent owned by Vodafone, nine years ago. Visa, the world’s largest payment company, has taken the competition for mobile money service a notch higher with the launch of mVisa that enables Kenyans use mobile phones to transact cash and make payments. The payment service platform has partnered with four banks in Kenya to launch a mobile phone payments platform that will mount the first credible challenge to the country’s dominant Mpesa system. The rollout of the service will enable Kenyans make free domestic mobile money transfers using mVisa. The daily limit for person to person transfers is set to be Sh250,000 with the per transaction limit being
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
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
Technology is key to Africa’s future

Technology is key to Africa’s future

Technology
Africa is a continent full of  innovation and creativity. Technology itself in the continent  is helping to break down the barriers for development. In relation to this, Africa’s embrace of technology turns two common assumptions inside out – that tech breakthroughs happen in rich countries, and that Africa needs basic services before it can use high-tech solutions. According to Africa Progress platform, what Africa’s start-ups are doing is using technology to build basic services – and a whole lot more. Technology is improving people’s lives – especially mobile services and applications. With minimal fixed line phone infrastructure, the continent has embraced the opportunity to leapfrog existing technologies, becoming a world leader in the delivery of such services. The mobil