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Tuesday, 30 March 2010 12:52 |
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Geekrebel posted a very exciting press release today, accouncing a joint venture between Vodacom and Nedbank to bring the M-PESA mobile money solution, hugely successful in Kenya and Afghanistan, to South Africa. M-PESA allows anyone with a cellphone to transfer money without a credit card or bank account. In Kenya, it has become commonplace to accept M-PESA payments for products from groceries to flights, and has greatly increased safety for people who now no longer need to travel with cash. As a payment method, M-PESA could allow online retailers to sell to markets that till now have not been accessible because they have not had credit cards.
I expect to see online retailers (including ebook retailers) accepting M-PESA payments soon after rollout. There are millions of people in South Africa who have not been able to shop online because they don't have credit cards. Soon they will be able to shop online using M-PESA. In Kenya, PesaPal has developed an online payment system for accepting M-PESA payments.
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Last Updated ( Tuesday, 30 March 2010 13:08 )
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