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Mobility & Financial Services
Mobile financial services news and trends
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Kenyan mobile cash transactions hit Sh1.7trn

Kenyan mobile cash transactions hit Sh1.7trn | Mobility & Financial Services | Scoop.it

Kenyans transacted more than Sh1.7 trillion on their mobile phones in the first 11 months of 2013, surpassing the value of the country’s budget this financial year.

This represents a 23.7 per cent increase from Sh1.4 trillion in the same period in 2012.

And this has been attributed to increased uptake of mobile phone financial services due to convenience, ease of use and security.

Katia Hilal's insight:

Kenya continues to be the most successful implementation of Mobile Money and an example to follow. The diversity of services offered, the ease of use and the security level are boosting the usage despite the lack of interoperbility between the different service providers.

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Insights on the Economics of Mobile Money: M-PESA Key Revenue Driver for Safaricom | Mobile Money for the Unbanked(MMU)

Insights on the Economics of Mobile Money: M-PESA Key Revenue Driver for Safaricom | Mobile Money for the Unbanked(MMU) | Mobility & Financial Services | Scoop.it

M-PESA continues to make headlines, increasing revealing insights on the economics of mobile money. Recently released financial statements from Safaricom indicate that M-PESA contributed 15.8% of Safaricom’s total revenue (compared to 12.5% the previous year), making it the company’s second largest revenue stream after voice. Most strikingly, M-PESA revenues increased 43% with only a 6% growth in registered customers from the previous year (now at 14.9M). This suggests that most of the revenue growth was driven by a large increase in the number of fee-based transactions (e.g., peer-to-peer transfers) per customer.

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The economist: Mobile money would transform even more lives in poor countries if regulators got out of the way

The economist: Mobile money would transform even more lives in poor countries if regulators got out of the way | Mobility & Financial Services | Scoop.it

IN 2007 Safaricom, the biggest mobile operator in Kenya, launched M-PESA, a service that allows money to be sent and received using mobile phones. It has since signed up 15m users, is used by 70% of the adult population and has become central to the economy: around 25% of Kenya’s GNP flows through it.

Similar schemes have had some success elsewhere. More than 120 mobile operators now offer mobile-money services of various kinds, and another 90 will soon join them. There has been a particular push in east Africa. Yet in many poor countries where mobile money should be flourishing, it isn’t....

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