M-Pesa launches in UK (Kenya)
Vodafone’s group company, Safarikom has launched m-pesa, it’s mobile money transfer and payment service at selected outlets in the UK.
Kenyans in the UK can now send money to their friends and family in Kenya through M-pesa UK, direct to their mobile phone wallets.
Western Union, Provident Capital Transfers and KenTv were involved in a small pilot before the commercial launch of this service. A total of 19 outlets with high local kenyan population were selected to trial this service.
To send money using M-PESA, the sender in UK will be required to identify themselves and furnish the agent with the recipient’s name, Kenyan mobile number and the amount being sent in Sterling Pounds. This will be converted at current rates and sent in Kenyan Shillings. Neither party is charged a registration fee.
A transaction fee ranging from £4 to £6.90 will be charged though.
Following authorisation by the Central Bank of Kenya, Safaricom shall be increasing the locations in the UK from which money can be sent to M-pesa customers as well as launching services across other popular remittance corridors
Currently, the maximum amount that can be sent internationally per transaction through M-pesa is £250 while the total allowable per month from a single sender in the UK is £1,000.
The successful take-up of M-PESA in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,†said Nick Hughes, Vodafone’s Head of International Mobile Payments. Our partnership with Western Union allows M-PESA subscribers to receive international remittances and builds on the demand we have already seen domestically in Kenya.â€
This program aligns a global leader in money-transfer services, the world’s largest mobile operator group, and arguably one of the most impressive success stories in mobile money,†said Matt Dill, Senior Vice President, Western Union Digital Ventures. In offering M-PESA users the opportunity to receive funds from abroad for the first time, these three companies are changing the way money moves around the
globe.â€
Safaricom CEO Michael Joseph said: We wish to invite Kenyans living in the UK to take advantage of this service, which presents a real innovation on our M-pesa menu. Through strategic partnerships with Western Union, Provident Capital and KenTV we are giving them an opportunity to convert across two currencies into M-pesa and send money affordably without any hidden costs directly to the mobile phone of the recipient.â€
Vodafone, Safaricom and Western Union announce partnership to deliver International Mobile Money Transfers
Vodafone, Safaricom and The Western Union Company announced that they will partner to pilot a cross-border Mobile Money Transfer (MMT) service between the U.K. and Kenya. This service will enable customers to send cross-border remittances from select locations directly to Safaricom mobile
subscribers in Kenya generally in minutes.
The initiative uses Western Union’s trusted global “hub” for processing cross-border remittances. It builds on the success of M-PESA, a mobile money transfer service in Kenya offered by Vodafone and sister company Safaricom, which has attracted over 4 million customers since its launch in March
2007.
The pilot will take place through a select number of Western Union(R) agents based in Reading, Berkshire. Consumers can send funds to any Safaricom mobile subscriber in Kenya in a matter of minutes. Receivers can use their funds in a variety of ways, including visiting one of 4,000 M-PESA agents in Kenya to withdraw their cash, or forwarding it on to another mobile phone in Kenya.
“The successful take-up of M-PESA in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,” said Nick Hughes, Vodafone’s Head of International Mobile Payments. “Our partnership with Western Union allows M-PESA subscribers to receive international remittances and builds on the demand we have already seen domestically in Kenya.”
“This program aligns a global leader in money-transfer services, the world’s largest mobile operator group, and arguably one of the most impressive success stories in mobile money,” said Matt Dill, Senior Vice President, Western Union Digital Ventures. “In offering M-PESA users the opportunity to receive funds from abroad for the first time, these three companies are changing the way money moves around the globe.”
Michael Joseph, CEO of Safaricom, said, “This is another great step for M-PESA and will benefit many Kenyans all over the world. International remittances form a significant part of the total income for some Kenyans, and the partnership with Western Union will provide Kenyans with an opportunity to receive small values of cash from abroad in a fast, safe and affordable way.”
There are many benefits of using mobile phones for micro-transactions in a country like Kenya, where few people have bank accounts and over 10 million people have mobile phones. Furthermore, increased global migration has led to a significant increase in the flow of funds from expatriate migrant workers who send money home. Last year, for example, Kenya received approximately USD1.3bn in international remittances.
Western Union, together with brands Orlandi Valuta and Vigo, has a combined network of more than 365,000 Agent locations worldwide in 200 countries and territories. Vodafone is the world’s largest mobile operator by revenue and has recently expanded the M-PESA service to Tanzania and Afghanistan. Safaricom is Kenya’s leading mobile operator and has had unprecedented success with its M-PESA service.
About Vodafone
Vodafone is the world’s leading international mobile communications group with approximately 269 million proportionate customers as of 30 June 2008.
Vodafone currently has equity interests in 26 countries across five continents and over 40 partner networks worldwide.
For more information, please visit www.vodafone.com
About Western Union
Western Union is a leader in global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a combined network of more than 365,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851.
For more information, please visit www.westernunion.com.
About Safaricom
Safaricom is proud to be the market leader in offering innovative products like M-PESA to the Kenyan people to enhance their lifestyle and their way of efficiently doing business. During the last six months we have introduced our Hot Spot range of products, including 3G routers for our business customers and prepay modems, both utilising our exclusive 3G network, enabling all our customers to have high speed access to their email and the internet.
For more information, please visit www.safaricom.co.ke.
