A pair of stories affirm the strength and vitality of mobile money services.
The first is a bit of crowing by the CEO of Kenyan mobile operator Safaricom over Barclays integration with its mobile money service M-Pesa. With over 12.6 million sending and receiving money at affordable prices the man is entitled to a little “I told you so.”
But it’s the second story, about the version called M-Paisa transplanted to Afghanistan, that affirms the benefits of mobile money services. The ability to transact electronically in places where logistics and corruption mitigate against economic efficiency and fair practice is truly nation building. In a nation we’ve had trouble building, never mind protecting, it’s great to see this comparatively low-tech service make a positive impact on the country.
Read referenced stories: