Saturday, 11 August 2007

Kenya: Trend-seeting M-PESA goes international

03-August-2007: Mobile phone service provider Safaricom has launched an international version of its trend-setting electronic money transfer service, M-Pesa.The service, to be delivered in partnership with Vodafone Plc — the UK telecoms giant with a 40 per cent shareholding in Safaricom, marks the entry of Kenya’s top mobile phone firm into the remittances transmission business whose value was estimated at Sh76 billion last year.

Ms Paulin Vaghaun, the head of M-Pesa at Safaricom, told Business Daily that the company had decided to launch the international service to cash in on the growing amount of financial transfers between the two countries.“Kenyans in the UK deserve an efficient and speedy means of sending money home and this is what we are offering,” she said. The pilot phase of the project will last three months before the official roll-out of the service. [Read more]

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