Breaking news: Vodacom and Nedbank Partner to Bring M-PESA to South Africa
Hot on the heals of the FNB / Paypal announcement comes a very exciting announcement by Vodacom and Nedbank.
“Vodacom and Nedbank today announced a joint initiative to bring M-PESA, the biggest global success story in mobile money, to South Africa.
M-PESA is an innovative mobile money solution which has already seen enormous success in other African markets, as well as in Afghanistan; enabling even unbanked customers to transfer money from person to person using a cellphone.
The M-PESA service was originally created as a pilot funded jointly by Vodafone and the UK Department for International Development [DFID] Financial Deepening Challenge Fund. Since then, the service has proved immensely successful in the Kenya, Tanzania and Afghanistan markets with more than 10 million M-PESA customers. ”
fringsters this is very good news for all the unbanked South African fringsters out there, we will be watching this story closely as it unfolds and will bring you the latest on mobile money as it unfolds.