All you need to know about M-pesa.

What is M-Pesa?


M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience. It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services. Now, M-Pesa provides over 42 million people with a safe, secure and affordable way to send and receive money, top-up airtime, make bill payments, receive salaries, get short-term loans and much more.

In 2019, our 41.5 million active customers carried out over 12 billion transactions

In early 2020, Vodacom & Safaricom completed the acquisition of the M-Pesa brand from Vodafone Group through a newly created joint venture. The joint venture will accelerate the growth of M-Pesa through Africa by giving both Vodacom and Safaricom full control of the M-Pesa brand, product development and support services as well as the opportunity to expand M-Pesa into new African markets.


How it works


Customers register for the service at authorised agents - often small mobile phone stores or other retailers such as barbers, butchers, bakers, etc. - and then deposit cash in exchange for electronic money. Customers can then send money to their family or friends throughout the country.

Once they have registered, all transactions are completed securely by entering a PIN number and both parties receive an SMS confirming the amount that has been transferred. The recipient receives the electronic money in real-time and then redeems it for cash by visiting another agent. Alternatively, they can spend it at an M-Pesa merchant.


Key services


Send and receive money

Domestic transfers: M-Pesa customers can send money in real time to any other M-Pesa customer with an account registered in the same country. In most markets customers can now send money to mobile money users on other networks as well.

International transfers: Through our international remittance partners, M-Pesa customers can receive and send money across borders in real time.

Cash in
Convert cash to e-money at any of our 430k agent points

Cash out
Convert e-money to physical cash at any of our 430k agent points, or at ATM machines

Retail payments
Buy goods and services in store or online with any registered M-Pesa merchant

Bills & Tax payments
Pay utility bills, school fees, taxes and much more with M-Pesa

Airtime & Data purchases
Buy airtime to make calls and browse the internet

Loans
M-Pesa customers build a credit score that enables them to access loans via our bank partners. Products include M-Shwari and KCB M-Pesa in Kenya and M-Pawa in Tanzania. We work hard to ensure customers not only have access to credit but are also educated so they understand the implications of a loan.

Savings
M-Pesa customers have access to fantastic individual and group savings products including Xitique in Mozambique, M-Koba in Tanzania, Mokhatlo in Lesotho and M-Shwari in Kenya. Halal M-Pesa also enables our customers to save safely whilst complying to Sharia laws. Savings accounts contribute to strengthening our customers’ credit scores, giving them better access to financial services.

Overdraft
Customers can access an overdraft facility on M-Pesa to support them to make payments when they don’t quite have enough balance on their account. The better their credit score, the larger their overdraft can be.

Agents also have access to an overdraft to ensure they can offer the best service to our customers, even when they’re low on float.

Wealth Management
M-Pesa customers can set their risk appetite and invest into wealth management funds to increase returns on their holdings. As always, we work hard to educate customers so that they understand the risks and rewards associated with such investments.

Insurance
M-Pesa customers can contribute to insurance schemes to safeguard against unforeseen events or financial shocks. Through our partners, we offer insurance products that cover health, agriculture, devices, transport, funerals and businesses.

Bank Transfers
Customers and Agents can transfer money between their M-Pesa wallets and bank accounts in real time.
 
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