Safaricom, the leading mobile communications provider in Kenya, is pleased to announce the launch of M-PESA, an innovative new mobile payment solution that enables customers to complete simple financial transactions by mobile phone. M-PESA has been developed by Vodafone, the world's leading mobile telecommunications group, with the pilot in Kenya operated by Safaricom.
M-PESA is aimed at mobile customers who do not have a bank account, typically because they do not have access to a bank or because they do not have sufficient income to justify a bank account. All they need to do is register at an authorised M-PESA Agent by providing their Safaricom mobile number and their identification card. Once registered, customers can:
Put money into their account by depositing cash at a local Agent
Send money to other mobile phone users by SMS instruction, even if they are not Safaricom subscribers.
Withdraw cash at local a Agent
Buy Safaricom airtime for themselves or other subscribers
Only Safaricom subscribers can send M-PESA, but anyone who can receive an sms can receive money by MPESA. Customers do not need to have a bank account to benefit from M-PESA services.
Cash is paid into M-PESA and withdrawn at M-PESA Agent outlets. These outlets are typically local Safaricom Dealers, but can also be other kinds of retailer such as petrol stations, supermarkets and local shops. There is currently a large network of M-PESA Agents across Kenya who have been trained to use the service. It is planned to grow this network significantly in the coming months.
The M-PESA service was originally created as a pilot funded jointly by Vodafone and the UK Department for International Development [DFID] Financial Deepening Challenge Fund. The pilot ran for over 6 months in
Kenya from October 2005 in partnership with Faulu Kenya, a local Microfinance Institution.
Michael Joseph, CEO of Safaricom, said: "Safaricom and Vodafone's M-PESA mobile money transfer service is an example of Kenya leading the way in the advancement of mobile technology and its uses. Following the very positive response by consumers to the pilot, we believe that there is a great deal to be gained for Kenyan consumers as well as for mobile and financial sector companies".
Gavin Darby, CEO Non European Affiliates at Vodafone, added: "Now we have officially launched M-PESA in Kenya, we look forward to taking the service international. Our announcement yesterday of Vodafone's international money remittance venture with Citigroup to assist migrant workers send money home conveniently and safely using mobile technology, would not be possible without the Kenya trials which have led to the successful launch of M-PESA."
For further information:
Vodafone Group
Media Relations
Tel: +44 (0) 1635 664444
About Safaricom
SAFARICOM LTD is the leading provider of communications services in Kenya, offering cellular network access and business solutions. SAFARICOM LTD was formed in 1997 and in May 2000, Vodafone group Plc acquired a stake and management responsibility for the company. The Company has since emerged as one of the fastest growing companies in Kenya. The Company is still aggressively expanding the market network throughout the country and developing strategic business relationships with leading global telecommunication players which help in ensuring that Safaricom has access to the world's latest technology to maintain its market leadership.
About Vodafone
Vodafone is the world's leading international mobile communications group with operations in 25 countries across five continents and over 200 million proportionate customers by the end of January 2007, as well as 36 partner networks. For further information, please visit www.vodafone.com/
