Safaricom trials global M-Pesa money transfer service
Published: Friday 5 December 2008 | 04:03 PM CET, The Paypers

Kenyan mobile operator Safaricom reports that it will soon launch an international money transfer service through the M-Pesa network.

Pilot programs are already running and only administrative and legislative details need to be finalised before the launch, according to Safaricom’s CEO Michael Joseph. Joseph added that the company resolved regulatory procedures and that the international money transfer service is expected to go live “any time now”. Safaricom announced in March 2008 that it was testing money-transfer services to India, Tanzania and the UK.


M-Pesa is a Safaricom service aimed at mobile customers who do not have a bank account and allows mobile subscribers to transfer money using their mobile phones. Safaricom’s shareholder Vodafone owns the license for the software which supports the service and Kenya is the first country in the world to use this service operated by Safaricom.


M-Pesa was launched in March 2007 and counted over 4.1 million users and 4,230 outlets at the end of September. In September, M-Pesa person-to-person money transfer transactions reached approximately EUR 95.669 million (over KES 9.61 billion).

 


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