Who benefits from M-Pesa?

M-PESA lets people deposit, send, and withdraw funds on their mobile phones. … M-PESA is convenient, fast, secure, accessible and above all cost less when compared with the competition. And these advantages were the driving force in favour of its adoption at the individual level (Mugambi et al., 2014) .

What does M-Pesa stand for?

M-Pesa from mere payment service to access point for a. wide range of formal financial services has been essential. in increasing financial inclusion. Today, Kenyans are able to. access their bank accounts, save money, buy insurance, and.

How do I hide my name from M-Pesa?

Dial *234# to opt out. You will still be able to transact on M-PESA without confirming the name. Can other people confirm my name before sending money? Please note that other customers will also not be able to confirm your name when you opt out of the service.

Why is M-Pesa so popular in Africa?

M-PESA is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience. It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services.

Is M-Pesa safe?

M-Pesa offers a safe, fast and low-cost way to pay, receive, transfer and store money. M-Pesa, works in real time and digitally, making it faster and cheaper than traditional informal money transfer services (e.g. sending money on a bus) and safer since every transaction is protected and signed with a PIN.

Who is Susie Lonie?

Susie is one of the creators of the M-PESA money transfer service which has transformed financial services across Africa. In 2005 whilst employed by Vodafone, she developed and ran M-PESA as a pilot in Kenya working with Safaricom.

Can I use M-Pesa in Nigeria?

Using the mySafaricom app you can send from your M-Pesa account to Nigeria through Western Union or PayPal if the recipient has a PayPal account.

Who is the owner of M-Pesa?


Operating area Kenya, Tanzania, South Africa, Afghanistan, Lesotho, DRC, Ghana, Mozambique, Egypt, Ethiopia
Members Vodafone, Safaricom
Founded 2007
Owner Vodafone
Website www.vodafone.com/m-pesa

How can I get M-PESA statement?

Dial *334# from your M-PESA registered line. Select option 7 – My Account. Select option 3 – M-PESA Statement>> request either full statement or mini statement. Your statement will be sent to your email and a notification sent to you on SMS.

What problem does M-Pesa solve?

Mobile money makes it safer and easier to send money home, and fees are much lower than fees for wire-transfers or postal services — so more money makes it home, and people in rural communities are less likely to go hungry.

Can M-Pesa hold 1million?

The maximum deposit limit on your KCB M-PESA Account shall be Kshs. 1,000,000/= or such other minimum or maximum amount as the Bank may from time to time in its sole discretion determine. Your deposits shall however not exceed Kshs.

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