Mobile Money: Changing the face of banking
value ProPosITIon for MobIle neTwork oPeraTors (Mnos) and banks
Trends in mobile banking bring a range of new opportunities for operators and banks
Value Proposition for MNOs Value Proposition for Banks
figure 1.
vodafone and The M-Pesa “accIdenT” all the M-PESA facilities. Funds can be added to and
Perhaps the strongest example of how mobile withdrawn from the customer’s phone via local agents
technology can transform financial services is Vodafone across Kenya, exchanging real money for digital and
and Safaricom’s M-PESA service in Kenya. vice-versa. In a country where many are unbanked,
M-PESA has provided a simple banking mechanism
M-PESA is a service from Safaricom, jointly owned for the masses.
by Vodafone & Telecom Kenya, that enables the
purchase and transfer of funds via the mobile device. Since its introduction in March 2007, the M-PESA
To register for the service customers purchase a new service has grown to over 3 million registered users
mobile SIM card which contains a simple menu for with nearly 200,000 new accounts opening monthly.
Perspectives on the future | 9
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