Following a successful pilot program in Kenya, Vodafone is rolling out a service that allows customers to access cash via their mobile phones. Called M-PESA, the service allows customers to borrow, transfer and make payments using a mobile phone, transforming financial services by making transactions cheaper, faster and more secure.
Vodafone CEO Arun Sarin said his company sees significant growth potential in emerging markets like Kenya partly because research shows that mobile technology can revolutionize social and economic growth in these countries.
“This is not for altruistic purposes,” he said. “We have no desire to undertake the role of governments or NGOs or embrace an exclusively philanthropic approach to ‘do good’. Rather we recognize that around 20% of the world’s mobile phone users are from low to middle income countries and can see that the next billion mobile phone users are likely to live in markets which have very different needs from those we are used to.”
See full Article.
Posts
