East Africa: Adopting Mobile Payments in East Africa – the Future Is Here / AllAfrica.com

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GIBS Information Centre / GIBSIC‘s insight:

mobile money – M-Pesa

Safaricom says it processes 2 billion transactions in a day on its M-Pesa platform; that number is made up of 2 million transactions that are strictly cash transfers of varying kinds and 2 million airtime top up transactions.  –  The East African market is enjoying exponential growth because of a myriad of factors including availability of mobile phones and new applications that make it easier for merchants to process payments by using just a cell phone. Mobile phones are generally thought of as simply a mode of communication or information transfer; mobile money has enabled the transfer of cash as well as the processing of credit cards. As an alternative payment method, especially in regions where banking restrictions make it difficult for the lower to middle class to hold accounts, mobile payment technology has been a huge benefit to society.”

See on allafrica.com