In March 2007, Safaricom, which is part owned by Vodafone and the leading mobile communication provider in Kenya, launched a mobile payment solution developed by Vodafone. M-PESA is aimed at mobile customers who do not have a bank account, typically because they do not have access to a bank or their income is insufficient to justify a bank account. The M-PESA system allows customers to deposit and withdraw cash via local agents, and transfer money to other mobile phone users via SMS.
By February 2008, the M-PESA money transfer system in Kenya had gained 1.6 million customers and Vodafone announced that it was to extend the service to Afghanistan. The service here was launched on the Roshan network under the brand M-Paisa with a different focus to the Kenyan service. M-Paisa was targeted as a vehicle for microfinance institutions' (MFI) loan disbursements and repayments, alongside business to business applications such as salary disbursement.
The Afghanistan launch was followed in April 2008 by the announcement of further a further launch of M-PESA in Tanzania. As an operator of money transmission services, Vodafone became subject to anti-money laundering regulation and in July 2008, it was revealed that it had deployed a sanctions and PEP (Politically Exposed Persons) screening solution from Datanomic for weekly screening of 2.5 million customers in Tanzania. The screening service was to be rolled out to Afghanistan, Kenya, India and Datanomic disclosed that the solution might be used to screen all of Vodafone's 300 million customers globally.
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1 comments:
The way of sharing experience and difficulties for money transfer.The problem you faced and solution of Money transfer is really awesome. Realy, I impressed.
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