Commerce Txt

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A look at mobile money in Kenya.

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Commerce Txt

  1. 1. Commerce Txt By: Jim Puckalo For the Course FILM315 @ Queen's University, Kingston, ON
  2. 2. Phone companies have long allowed individuals to purchase “air-time” and to send this credit to other users. Source: The Economics of M-Pesa (i.e., pre-paid cell phone credit that can be used for voice or SMS communication) Image Courtesy of the U. S. National Archives
  3. 3. In March 2007, Safaricom launched M-PESA, an SMS-based money transfer system that allows individuals to.. <ul><li>Deposit </li></ul><ul><li>Send </li></ul><ul><li>Withdraw.. </li></ul>..funds using their cell phone. Source: The Economics of M-Pesa Image courtesy of the U. S. National Archives
  4. 4. M-Pesa = M( obile ) + Pesa (Swahili for “ Money ”) Image courtesy of Jim Puckalo
  5. 5. Money can be zapped from one part to another in seconds. For people used to queuing at banks for hours to pay bills or school fees, the M-PESA money-transfer service is a godsend. No wonder it is used by 9.5m people, or 23% of the population , and transfers the equivalent of 11% of Kenya’s GDP each year. Source: The Economist In Kenya.. Use M-Pesa 23%
  6. 6. If we think of Canada 's population.. 1 in 4 Canadians would be using M-Pesa
  7. 7. Or all of Bell Mobility's customers.. 20% Of Canadians use Bell + a few more..
  8. 8. M-PESA has spread quickly and has become the most successful mobile phone-based financial service in the developing world. Source: The Economics of M-Pesa
  9. 9. Afghanistan Tanzania South Africa M-Pesa has now expanded into:
  10. 10. Not bad for a little SMS text messaging service

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