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A little wonder, every day

M-PESA turned a mobile phone into a wallet

Fiona Graham, M-PESA mobile money and Equity agent outlet in Nairobi, photographed 13 October 2016. Wikimedia Commons, CC BY-SA 2.0. Original image, no edits. https://commons.wikimedia.org/wiki/File:M-PESA_mobile_money_and_Equity_agent,_Nairobi,_Kenya.jpg
Rosenfeld Media, photograph of M-PESA on a Nokia 1100, photographed 30 April 2012. Wikimedia Commons, CC BY 2.0. Original image, no edits. https://commons.wikimedia.org/wiki/File:M-Pesa_on_Nokia_1100_20120430.jpg
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Fiona Graham, M-PESA mobile money and Equity agent outlet in Nairobi, photographed 13 October 2016. Wikimedia Commons, CC BY-SA 2.0. Original image, no edits. https://commons.wikimedia.org/wiki/File:M-PESA_mobile_money_and_Equity_agent,_Nairobi,_Kenya.jpg

Listen to fact0:00 / —

Kenyan company Safaricom launched M-PESA on 6 March 2007. Through a SIM Toolkit menu on a mobile phone, users could send and receive money; an agent network helped convert digital funds to cash and vice versa. According to Safaricom data cited in a report by the United Nations Economic Commission for Africa, by September 2010 the service had transferred 68.02 billion Kenyan shillings (about US$841 million in the report) in 28.45 million transactions. In March 2019, Safaricom reported 22.6 million M-PESA customers active during the previous 30 days. This was not 31.8 million active M-PESA users: 31.8 million referred to Safaricom’s total customer base, not M-PESA.