I know. Kenya is not in Asia. And M Pesa is in Kenya. But I read this nice blog post and figured that readers of LIRNEasia might appreciate learning a bit more about M Pesa.
Few initiatives in microfinance, or for that matter in development, have been as successful as M-PESA: 3 and a half years after launch, over 70% of households in Kenya and more importantly over 50% of the poor, unbanked and rural populations use the service. I am often struck by how many people fail to be inspired, or even doubt M-PESA. Skepticism is often bred from lack of information.
What about you, how much do you really know about how M-PESA actually works? Here are 10 things you may have thought you knew about M-PESA!