Vodafone Expands M-Pesa Mobile Money Service

Vodafone's M-Pesa to open up more international money transfer routes to poor communities in developing markets

October 23, 2012

1 Min Read

BERKSHIRE, U.K. -- Vodafone is set to help more people without access to conventional banking by broadening the reach of its secure mobile money transfer service, M-Pesa.

From next month, Vodafone will connect its M-Pesa service to a leading international remittance hub, HomeSend operated by BICS. This will allow M-Pesa customers to send and receive funds via their mobile phone accounts by connecting directly to more than 21 international money transfer businesses in 35 countries.

M-Pesa was launched by Vodafone in 2007 and is currently available in seven countries including India, Kenya and Tanzania. The service allows customers to send and receive money via their mobile phones as securely and simply as sending a text message. Prior to M-Pesa, many people in developing markets had no choice but to move cash around in person or by public transport, exposing them to corrupt middlemen and thieves.

Vodafone Group plc (NYSE: VOD)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like