Vodacom “cautiously optimistic” that M-Pesa is better positioned to take off in South Africa

Thursday, September 25, 2014

Mobile operator Vodacom is cautiously optimistic that itsMobile money offering, M-Pesa, is now better positioned to take off locally, after it failed to make much of an impression on the local market the first time around.

The company has signed up a new banking partner, Bidvest, which Vodacom spokesperson Richard Boorman says has a lot of experience in moneyservices. “Bidvest specifically has a lot of experience in cross-border mobile money services, and even though this is not a feature of M-Pesa yet, we would like to explore that in future.”

Vodacom’s first stab at introducing M-Pesa to SA came in September 2010, when the operator partnered with Nedbank. While it expected to recreate the large-scale success the mobile money offering enjoyed in East Africa, specifically in countries such as Kenya and Tanzania, the product failed to take off.

Source: ITWeb Online News (link opens in a new window)

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Base of the Pyramid, financial inclusion, financial services, mobile money