Pesa

Another big success story in Kenya also focuses on that missing middle - the mobile banking system M-Pesa, which is soon to be launched in South Africa.

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Another video circulating on the Internet, with sweeping music and equally sweeping landscapes, is this documentary which praises M-Pesa, now in its fourth year of commercial existence.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

The economist said Safaricom also has been able to effectively integrate M-Pesa into Kenya's banking system.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

Mobile moneyM stands for mobile and Pesa is Swahili for money.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

But Kenyans have been willing to pay these services, as millions of M-Pesa transactions now take place on a daily basis.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

Now you can send M-Pesa fast and safe using Safaricom's new service M-Pesa, says the M-Pesa advertisement.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

While many other companies are trying to develop mobile money across Africa, Jack said several factors have helped Safaricom with M-Pesa, including having a dominant position in Kenya's voice market.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

But Kenyans have been willing to pay these services, as millions of M-Pesa transactions now take place on a daily basis.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

Success storiesHe is not surprised the Bill and Melinda Gates Foundation has commissioned him to do more M-Pesa research.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011

M-Pesa allows users to send money to others through their mobile phones, and pay more and more items, from bills, to groceries, school fees, hotel bookings and even salaries and taxi fares.

Development Experts Ring Up Kenya's Mobile Money Success Story 2011