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   M-Pesa
Created Date: 10/2/2009 9:59:21 AM
Country: Kenya
Focus: Institution and HR Management
Status: In use
License: Proprietary
Product Type: Software - Mobile
Target Users: M-Pesa is aimed at mobile phone customers who do not have a bank account.
Developer Name: Safaricom Limited
Product Url: http://www.safaricom.co.ke/index.php?id=745
System Requirements: M-Pesa is installed on a Safaricom SIM card and works on all mobile phones.
Description: M-Pesa is an innovative mobile transfer solution aimed at mobile phone customers who do not have a bank account. M-Pesa enables Safaricom customers to deposit, send, transfer and withdraw money, buy airtime, pay bills and manage their account. To transact, Safaricom customers need to deposit money in their M-Pesa account at an authorized M-Pesa agent. The authorized M-Pesa agent will send e-money to the Safaricom customer in exchange for cash. When e-money has been deposited, Safaricom customers can send, transfer and withdraw money, buy airtime, pay bills and manage their account by sending an SMS.

Currently, only Safaricom customers can register for M-Pesa. Other network subscribers will have to churn to Safaricom to register for M-Pesa. M-Pesa can be used for sending money both to persons that are Safaricom customers and persons that are not Safaricom customers, however, sending money to persons that are Safaricom customers is cheaper than sending money to persons that are not Safaricom customers. Currently, Safaricom only offers M-Pesa for money transfers between mobile phone users, however, in future Safaricom plans to offer M-Pesa for money transfers between banks and microfinance institutions and their customers.

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