What is M-Pesa?
12 years of M-Pesa
In the Fiscal Year 2019, our 42 million active customers carried out over 11 billion transactions, averaging over 500 transactions every second in December 2018.
M-Pesa enables customers to send, receive and store money safely and securely via a basic smartphone. Most of our markets have launched the M-Pesa smartphone app, providing customers with a digital platform to manage their M-Pesa accounts, and also to make faster purchases at merchant points via QR code.
How it works
In Kenya and Tanzania, M-Kopa Solar has connected hundreds of thousands of off-grid homes to affordable solar powered electricity for lighting, cooking and charging their mobile phones. Since the initial outlay for the solar kit is unaffordable for most households, through M-Pesa customers make small daily payments to M-Kopa, paying off the cost of the kit over the course of a year. The solar system is then fully owned by the household who can continue to use it for free.
In DRC, G4S struggled to pay its security staff who were spread around the country. Local supervisors would head to remote areas to pay staff with cash face-to-face, which was a huge security risk to them and their employees. M-Pesa allowed G4S to pay its staff in bulk, directly to their mobile phones in an instant. “M-Pesa took a big problem off my shoulders. It’s not only fast and effective but also a win-win situation for G4S and our employees." Jan Mortimer, MD, G4S, DRC
Today, 37 million customers in 7 countries rely on M-Pesa to safely and securely send, receive and store money, making Vodafone the leading mobile money provider, alleviating financial uncertainty and contributing to achieving the UN Sustainable Development Goals (SDG).
On the 10th anniversary of M-Pesa, Michael Joseph, Vodafone Group’s Director of Mobile Money, reflects on the technical development and subsequent impact of the world’s leading mobile money service.
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