M-Pesa is a mobile-based fund-transfer and micro-level banking service available to customers of Safaricom, Kenya’s largest mobile network. Introduced in 2007, the service has become a primary channel for fund transfers in the country.

Originally developed as a low-cost microfinance loan repayment system, due to its rising popularity it was extended as an open platform to remit funds and make consumer payments. This was largely a result of factors such as the high cost of remitting funds through banks, a lack of banking facilities, low card penetration, minimal card acceptance infrastructure, and the high costs involved with dealing with cash in Kenya.

Users can register for the service at an authorized M-Pesa agent and transfer money from an M-Pesa account to recipients via mobile phone. In addition to money transfers, M-Pesa users can also carry out ATM cash withdrawals as well as online and in-store payments using a mobile phone. Safaricom expanded its services to include NFC-based in-store payments in May 2017.

Safaricom has collaborated with Commercial Bank of Africa, allowing users to open an M-Shwari bank account on a mobile phone without having to visit a bank branch. In November 2018, Safaricom introduced M-Pesa Global, enabling users to make cross-border fund transfers using their mobile phone through its partnership with PayPal and Western Union.

The report provides information and insights into M-Pesa including -

  • Detailed insight into its business
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment solutions
  • Information on its performance, including its revenue model
  • The company’s important events and milestones.


  • In March 2007, M-Pesa was launched in Kenya.
  • Using M-Pesa, users can transfer money to recipients with their Safaricom mobile number.
  • Users can withdraw cash from an M-Pesa account at M-Pesa agents or a bank’s ATM without carrying a physical card.
  • In March 2019, Safaricom partnered with Kwale County, enabling Kwale County residents to make cashless payments for services including market fees and parking through M-Pesa.

Reasons To Buy

  • Gain insights into M-Pesa’s business operations and key events.
  • Gain insights into its product portfolio and revenue model.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.