In this exclusive NEXTcast interview, David S. Evans is joined by Ignacio Mas, author of several papers on M-PESA, to discuss Mobile Payments go Viral: M-PESA in Kenya. M-PESA is an electronic P2P payment and stored value system that relies on a mobile phone’s SIM card and PIN for authentication.
Three years our from their launch in Kenya, M-PESA has grown to over 9 million customer. With their initial launch around ‘Send Money Home’, M-PESA users have found other ways to implement the P2P/prepaid services which include micro-enterprise prepaid sales, safe travels of cash-in and cash-out, or money transfers from person-to-person.
Listen to this exclusive interview to learn more on M-PESA and find out how they solved the payment ‘chicken & egg’ riddle.