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M-Pesa success sets pace for mobile money uptake

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The tremendous success of M-Pesa in Kenya is influencing consumers and businesses in other African countries to adopt mobile money, a survey has said.

The study titled Mobile Payment Transaction Market, which looks at the text-based payment mode, Near Field Communication (NFC) and web-based payments, says Kenya’s M-Pesa is popular since any rudimentary GSM phone on the Safaricom network can register for it.

“Unlike US and Europe, a majority of consumers do not own a credit card. In Asia-Pacific region and Africa mobile payments will continue to be strong and as proved by M-Pesa; many countries are making a direct shift from cash to mobile payments,” it said.

For more on this story visit the following link: M-Pesa success sets pace for mobile money uptake

Source: Daily Nation

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