After having revolutionized the monetary habits in Kenya, the mobile service money M-Pesa is going out of the continent and headed to a new destination: India. The network provider Vodafone is now aiming at the 700 million individuals without a bank account in India.
Vodafone, the main shareholder at Safaricom Kenya (the owner of the solution service), has rolled out the service in several African countries such as Tanzania, the Democratic Republic of Congo and nows the Asian market.
“For millions of people in India, a mobile phone is a bank account, a front door to a micro-business or a lifeline to people in the remotest areas,” says General Manager and CEO of Vodafone India, Marten PIETERS.
Launched in 2007, M-Pesa was an African success-story. In India, it will be partnered with ICICI Bank.