Mobile Banking In Kenya

We’ve been watching the impact of the mobile phone in developing countries for a while and now Influx Insights points us to a mobile banking system found in Kenya.. Kenya has one of the fastest rates of mobile adoption anywhere in the world, with 8 million of its 35 million citizens now owning a phone.

Now the M-Pesa service offers Kenyans the ability to send and receive money using SMS messages. The site says:

M-PESA is a new Safaricom service allowing you to transfer money using a mobile phone. Kenya is the first country in the world to use this service, which is offered in partnership between Safaricom and Vodafone. M-PESA is available to all members of the public, even if you do not have a bank account or a bankcard.

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