What is M-PESA?

M-Pesa is a mobile service for money transfers, microfinancing and financing. It was launched back in 2007 by Vodafone for Vodacom and Safaricom (the biggest mobile operators in Tanzania and Kenya respectively). The name M-Pesa comes from combining the letter M (which stands for Mobile) with the Swahili word for money, pesa.

Since its conception, the service has spread to India, South Africa, Afghanistan, Romania and Albania. It gives users the ability to withdraw, deposit or transfer money, as well as pay for goods and services with their mobile devices. The latter feature is available via Lipa na M-Pesa.

M-Pesa allows its users to make a deposit to an account, which is stored on their mobile phones; to send money via secure text messages to other people (including sellers); and to redeem a deposit for regular money.

Read more at https://www.thezimbabwean.co/2018/01/what-is-m-pesa/

and https://www.3neel.com/m-pesa-transaction-charges-for-sending-and-withdrawing-money/

and https://londonlovesbusiness.com/10-things-you-may-have-thought-you-knew-about-m-pesa/

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