Apr 16, 2012

5 things you probably dont know (but should know) about M-PESA

Here are a few things about M-PESA you may find interesting to know (if you didn't know before).
  1. In Kenya, KES12- KES15 Billion are stored in M-PESA systems at any one time.
  2. Safaricom is not allowed to earn interest on the money stored in M-PESA — instead, interest earnings go into a charitable M-PESA foundation.
  3. When it started, M-PESA was never intended to make a profit. It was intended only to increase customer loyalty. Today M-PESA provides 16 per cent of Safaricom's revenue.
  4. At peak times, there are 200 M-PESA transactions every second, and the equivalent of 20% Kenya's GDP flows through the system.
  5. Fraud within M-PESA is 5% of that withing the banking system.