M-PESA (2024)

FAQs

Is M-Pesa used in USA? ›

Can you send M-PESA transfers from the US? Yes. You can send money from the US to be received into an M-PESA wallet. This service is offered by a selection of third party providers, including well known and popular international money transfer services like Western Union®, WorldRemit® and Wise.

Michael Joseph explains why M-Pesa did not perform as well in the Indian market as the company had originally hoped. currency as well as 'black money,' i.e., income on which tax has illegally not been paid, exacerbates the problem of over- reliance on cash (D'Cunha, 2017).

M-PESA (M for mobile, PESA is Swahili for money) is a mobile phone-based money transfer service, payments and micro-financing service, launched in 2007 by Vodafone and Safaricom, the largest mobile network operator in Kenya.

FAQ About Using Zelle to M-Pesa in Kenya

No, you cannot send money to M-Pesa in Kenya with Zelle, as Zelle is available only in the US. The payment app only allows you to send money from one US bank account to another, meaning both the sender and the recipient must have US bank accounts.

This is a service that enables M-PESA registered customers to send and receive money globally. Dial *840# to get started and send money across borders.

Safaricom confirmed that it now holds 100% ownership of M-Pesa, a company that manages billions of Kenyan shillings in customer deposits. This acquisition establishes M-Pesa as a fully owned subsidiary of Safaricom.

As an M-PESA Agent, you will be charged a fee of 0.123 % of the total value of the amount requested.

Sitoyo Lopokoiyit has been the CEO of M-Pesa Africa since April 2021, overseeing the mobile money platform's operations across eight markets on the continent, Ethiopia being the latest entry.

The move comes after Safaricom took control of M-Pesa Holding Company Limited —the firm that holds the cash powering its mobile money service— from London-based Vodafone Group Plc which is its ultimate parent company.

M-PESA deposits to clients are free, Safaricom still pays commissions to M-PESA agents performing this service. When a customer withdraws money, Safaricom will deduct a withdrawal fee. This fee is shared by Safaricom, the principal-agent, and the sub-agent.

Who invented M-PESA in the world? ›

Nick Hughes led the team to take M-PESA from concept to scale, a mobile money project that has revolutionized the life of millions of Africans since it launched in 2007. In 2012, Nick launched a new project, M-KOPA.

Yes, M-Pesa can receive money from abroad, but not directly. To receive money from abroad with M-Pesa, your sender must use a third-party money transfer service like Remitly, WorldRemit, Wise, or Skrill to make a remittance.

M‑PESA provides quick and easy financial services to anyone with a mobile phone. You do not need a bank account to use M‑PESA, just a Safaricom SIM card!

This service is available in all countries except sanctioned countries e.g. North Korea and Syria. Can one send money to all Banks globally? This service is currently available in Germany, China and UAE.

The reliable ways to transfer money to bank accounts around the world. Send money to bank accounts around the world the way that works for you: online, with the Western Union^® app or in person at an agent location. Choose your country to get started.

PesaLink will facilitate Funds transfer from KES to KES, USD to USD, GBP to GBP and EUR to EUR accounts.

M‑PESA provides quick and easy financial services to anyone with a mobile phone. You do not need a bank account to use M‑PESA, just a Safaricom SIM card!