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

Monday, May 9, 2016

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)

financial inclusion, mobile banking, mobile finance, mobile money