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M-Pesa

Pioneering Mobile Money for Financial Inclusion in Kenya

M-Pesa is a mobile money service introduced by Safaricom, Kenya’s leading telecommunications provider. Launched in 2007, M-Pesa revolutionized the financial landscape by providing users with a secure and convenient platform for mobile-based transactions, bridging gaps in financial access and contributing to Kenya’s economic growth.

Documentation
% of coverage
  • Country

    Kenya

  • Population

    54.9 million (estimated)

  • Number of Internet users

    23.35 million (estimated)

  • Popular payment methods

    Mobile money (M-Pesa), debit cards, bank transfers, and cash payments

% of coverage
  • Credit Card

    6%

  • Debit Card

    10%

  • E-Wallets

    55%

  • Cash Payments

    20%

  • Bank Transfers

    7%

  • Other

    2%

Payment Method Overview
  • Type:Mobile Money Transfer
  • Currency:Various, including Kenyan Shilling (KES)
  • % of coverage:95% of Kenya’s adult population (estimated)
  • Money transfers to date:> 1.7 billion transactions annually (estimated)
  • Total customers:> 50 million (estimated)
  • Refunds:Yes, subject to Safaricom's terms and conditions
  • Chargebacks:No

About payment system

M-Pesa stands as a transformative force in Kenya’s financial landscape, transcending traditional banking by introducing a mobile-based approach to money management. Users create M-Pesa accounts linked to their mobile phone numbers, enabling them to perform an array of financial transactions directly from their phones.

The service offers a wide range of functionalities, including person-to-person money transfers, bill payments, airtime purchases, and access to microfinance solutions. The process is simple: users visit authorised M-Pesa agents to deposit or withdraw cash, which is then credited to or debited from their digital M-Pesa accounts.

M-Pesa’s significance is particularly pronounced in regions with limited access to traditional banking infrastructure. The service has democratised financial access, enabling users from various backgrounds to participate in the formal financial system and manage their finances more effectively.

M-Pesa’s success is attributed to its user-friendly interface, wide availability of agents, and continuous innovation. By offering a secure and convenient alternative to cash transactions, M-Pesa has not only transformed the way Kenyans manage their finances but has also served as a global model for mobile money services, sparking financial inclusion initiatives in various parts of the world.

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Payment flow

The customer selects Visa as their payment option and enters their credit card details to complete the payment.

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