Monday
May 9
2016

Vodacom pulls plug on mobile money service M-Pesa in South Africa

May 9 Vodacom will discontinue its mobile money service M-Pesa in South Africa after it failed to attract enough support in its slow-growing home market, the telecommunications firm said on Monday.

The service, which enables text message transactions on mobile phones, has been hugely popular in Kenya and Tanzania, but Vodacom sees little prospect of achieving a critical mass of users in South Africa, Vodacom Chief Executive Shameel Joosub said in a statement.

Source: Reuters (link opens in a new window)

Categories
Technology
Tags
financial inclusion, mobile banking, mobile finance, mobile money