Payments 2.0
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Payments 2.0
Digital wallet, Mobile payments, Contactless payments, NFC payments, Mobile wallet, Mobile POS, Bill payments, Bitcoin, Virtual currency
Curated by Therese Torris
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Africa's M-Pesa shows mobile finance's future

Africa's M-Pesa shows mobile finance's future | Payments 2.0 | Scoop.it

Chris Skinner : "I spent some time reviewing the latest news on M-PESA yesterday. M-PESA is now seven years old, and has transformed the African landscape. Since its launch in 2007, over 18 million of the 43 million..."

Therese Torris's insight:

article focuses on Kenya. M-Pesa has expanded into Eeastern Europe and India (with ICICI since 2013), would be interesting to analyze its success there

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M-Pesa's combination of mobile micro loans and mobile payments

M-Pesa's combination of mobile micro loans and mobile payments | Payments 2.0 | Scoop.it
Mobile Money gets Groked Finextra What a fabulous week I have just had in Kenya. Home to many things, it is the current home of mobile money. Ask any Kenyan what mobile money is and how useful it is and you will get a very clear answer.
Therese Torris's insight:
Very interesting article about m-pesa in Kenya , illustrates the many value added services enabled by mobile payments
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M-Pesa's new platform expands capacity, supports real-time mobile payments - Mobile Payments Today

M-Pesa's new platform expands capacity, supports real-time mobile payments - Mobile Payments Today | Payments 2.0 | Scoop.it
M-Pesa's new platform expands capacity, supports real-time mobile payments Mobile Payments Today M-Pesa, the mobile money system run by wireless provider Safaricom, has been the standard for mobile money since its inception in 2007 in Kenya.
Therese Torris's insight:
Chinese telecommunication company huawei is helping Kenya-originated mobile payment pioneer m-pesa to expand both services and service capacity
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Kenya: (Surreal) Warning about M-PESA from World Bank | Financial Post

Kenya: (Surreal) Warning about M-PESA from World Bank | Financial Post | Payments 2.0 | Scoop.it

[...] There are roughly 40 million users of mobile payments systems worldwide.About half are residents of Sub-Saharan Africa who use a system [M-PESA] developed in Kenya that last year processed an average of $500-million of transactions a month...

 

Therese's comment: Surreal warning by the Worldbank about the dangers of an M-PESA dominance/monopoly. Comments ask wether a warning about the global VISA/MASTERCARD duopoly wouldn't be more appropriate

 

Picture: Tony Karumba/AFP/Getty Images

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U.S. Should Follow Kenyan M-PESA's Lead on Mobile Payments - American Banker

U.S. Should Follow Kenyan M-PESA's Lead on Mobile Payments -  American Banker | Payments 2.0 | Scoop.it

M-PESA has registered more than 17 million African customers who conduct basic banking transactions such as transfer payments on their mobile.

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Unbanked banking on mobile: From Kitwe to Cleveland - Mobile Marketer - Columns

Unbanked banking on mobile: From Kitwe to Cleveland - Mobile Marketer - Columns | Payments 2.0 | Scoop.it

Summary: Gary Schwarz analyzes succesful African mobile payment systems such as Cash M-Wallet, M-PESA to determine whether there i an opportunity to provide to serve the 17 million unbanked and 43 million underbanked US citizen with a viable light-banking footprint that would include International Money Transfers, Airtime Top up, Basic Bill Payments, Storing Benefit Payments, Possibly retail micro-transactions. He argues that banks may not be the best channel for it.

 

My take: Thorough and relevant because Gary Schwartz is not only CEO of Impact Mobile, Toronto, he also lived in Africa.

 

To learn more about M-PESA and its 15 milion users follow this link http://www.safaricom.co.ke/index.php?id=250

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M-Pesa arrives in Europe

M-Pesa arrives in Europe | Payments 2.0 | Scoop.it
Having transformed Kenya's financial services industry, mobile money system M-Pesa is coming to Europe, with Romania the first stop.
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Reinventing the wheel - Four lessons from early mobile wallet expériences in Kenya

Reinventing the wheel - Four lessons from early mobile wallet expériences in Kenya | Payments 2.0 | Scoop.it
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M-pesa Grows to biggest African banks as Mobile phone deposits hit Sh226 bn

M-pesa Grows to biggest African banks as Mobile phone deposits hit Sh226 bn | Payments 2.0 | Scoop.it
Cash deposits handled by mobile phone companies in three months between October and December last year totalled Sh226 billion, an amount equivalent to total clients' money held by KCB at the close of 2012.
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How Kenya became a world leader for mobile money | End Poverty

How Kenya became a world leader for mobile money | End Poverty | Payments 2.0 | Scoop.it

[...] Today, Kenya has more cell-phone subscriptions than adult citizens and more than 80 percent of those with a cell phone also use “mobile money” (or “M-PESA” which is very different from “mobile banking” as Michael Joseph–the former Safaricom CEO, and the man behind that revolution—can explain passionately!)....

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Mobile phone banking and remittances: An African boom [50179876] | African news, analysis and opinion – The Africa Report.com

Mobile phone banking and remittances: An African boom [50179876] | African news, analysis and opinion – The Africa Report.com | Payments 2.0 | Scoop.it

"Increasing collaboration between banks and telecommunications companies in Africa is making life easier for many people who now transact banking through their mobile phones"

 

Note: discussing M-Pesa (mobil payments), M-Kesho (Mobile Banking) and microinsurance in Kenya, Ghana and West Africa involving Vodaphone, MTN, Nedbank, among others

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