Monday
June 19
2017

Why mPesa will not be an instant hit in Nigeria

It’s been barely a decade since mPesa — Safaricom’s award-winning mobile money service — took Kenya, and the world, by storm.

Having since expanded to 10 additional countries within and outside (Albania, Romania, Afghanistan and India) the African continent, mPesa has grown to a platform with over 29.5 million active customers and 287,400 agents. In 2016 alone, it processed about 6 billion transactions, at a peak rate of 529 transactions per second.

In spite of all these impressive stats, mPesa’s relative success on the homefront still leaves some wanting.

Source: Techpoint.ng (link opens in a new window)

Categories
Financial Inclusion, Technology
Tags
financial inclusion, financial technology, fintech, M-Pesa, mobile money, Nigeria, Safaricom