“M-Pesa, Kenya's mobile payment system, has revolutionized mobile technology for millions and provides the majority of the country's citizens with banking access, no matter how isolated they are.
It's easier to pay for a cab ride in Kenya on your mobile phone than it is just about anywhere else in the world. Almost 80% of people with cell phones use them for mobile payment and banking (and three quarters of the people in Kenya own cell phones), primarily through the M-Pesa system. Half of all mobile money transactions in the world take place in Kenya, where annual transfers have reached $10 billion.
About 60% of Kenyans living on less than $2.50 a day have mobile phones. Kenyans, even those at the bottom of the economic pyramid, have adopted the technology faster than any other African country. This rapid adoption was spurred by the invention of M-Pesa, which was created in 2007 by Safaricom, Kenya's leading mobile service provider.”
read more>>