A new report reveals that 70 percent of non-cash transactions in Kenya are completed through Safaricom’s M-Pesa services, reported African Business Day. At present, about 90 percent of transactions in Kenya are done with cash, which underscores the influence of M-Pesa and the opportunity for mobile payments programs.
M-Pesa is reported to be the most popular mobile money service in Kenya, and it is estimated that almost 50 percent of Kenyans are registered with an M-Pesa account. The Central Bank heavily encourages mobile payments since the national is helping the economy move towards a cashless society to improve financial inclusion.
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