Local transactions by Kenya’s mobile money service, M-Pesa exceeds Western Union’s global transactions

Launched in March 2007 by Kenyan telecoms operator, Safaricom, the service which now has over 14 million users in Kenya is currently the world’s most successful mobile payments system. The NextWeb reports.

Local transactions by Kenya’s mobile money service, M-Pesa currently exceeds transactions made by Western Union globally, the International Monetary Fund (IMF) reports. According to the IMF, “M-Pesa now processes more transactions domestically within Kenya than Western Union does globally, and provides mobile banking facilities to more than 70 per cent of the country’s adult population.

Read full article. via Jody Ranck Summify. Image from CGAP.

emily | 9:32 AM | Mobile Payments |
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