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Book on M Pesa launched

The story of M Pesa in the form of a book.

Launched as a simple money transfer service, M-PESA has evolved to a full payment service which now includes payment services and the Lipa na M-PESA service which is targeted at SMEs. Since launch last year, Lipa na M-PESA has so far recruited 36, 749 merchants.

“M-PESA has put Kenya and Africa at the forefront of ICT innovation and is a reference for many other countries that plan to implement a mobile money payment platform.M-PESA is indeed one of the ways that we have been able to fulfil our aspiration to Transform Lives,” said Safaricom’s GM of Financial Services, Betty Mwangi-Thuo.

Launched last evening in Nairobi and available to the public via Amazon and Kindle, the book brings to light challenges which include the regulatory environment. Despite the banks’ reservations about the scheme, once it was successful banks were able to use it to offer financial services to a new customer base. It also follows the impact of M-PESA on the poor, and the dynamics in the Kibera slum, For instance: the average M-PESA balance has gone up fivefold since 2008. The poor are clearly using the service as an alternative to the mattress or the tin under the bed.

– See more at: http://techmoran.com/m-pesa-mystery-laid-bare-in-a-new-tell-all-book/#sthash.OaQHYJgg.dpuf

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