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Username: BobM

Rating:
Guru Stars

Asked to: Jun Wang

Date Created: 06 May 2017
Category 17
Tag Financial
Question Please give the definition of 'M-Pesa'.
Advice from Guru
Hello BobM,

A mobile banking service that allows users to store and transfer money through their mobile phones. M-Pesa was originally introduced in Kenya as an alternative way for the unbanked population of the country to have access to financial services. Safaricom, the largest mobile phone operator in Kenya as of 2016, launched M-Pesa in 2007.

M-Pesa is a blend of two entities where M means mobile and Pesa means payment in the Swahili language.

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