Safaricom Kenya to launch text loan & other banking services

By on October 30, 2006 in Operators, Services

Link: allAfrica.com: Kenya: The Next Big Thing (Page 1 of 3)

Safaricom is preparing to roll out a low-cost money transfer system that will turn users’ phones into banking instruments.The move is expected to see the mobile operator shake up the financial services sector by making transactions faster, cheaper and more secure.

M-Pesa (short for Mteja-Pesa) will allow customers to borrow, transfer and pay money using SMS text messaging. Customers will also be able to access virtual loan accounts.

About Ewan

Ewan is Founder and Editor of Mobile Industry Review. He writes about a wide variety of industry issues and is usually active on Twitter most days. You can read more about him or reach him with these details.
View all posts by Ewan →

, ,

  • http://safaricom steve

    I thank God every night since I found you. You came into my life when everything seemed so dark but you provided the light to find my way.

  • http://loanstocks.net loan stocks

    sms banking is better than conventional method

  • http://www.tvloanmodificationleads.com Loan Modification leads

    nice info..

  • http://www.tvloanmodificationleads.com Loan Modification leads

    nice post..

  • http://realestatecrusher.com/ real estate marketing

    If that is true, It would be great.. no hassle..
    I hope there is no scam here..

  • http://realestatecrusher.com/ real estate marketing

    If that is true, It would be great.. no hassle..
    I hope there is no scam here..

  • peternjihiakoko

    I wish the management of safcom would be giving the subscribers a the best apportunity to operate a bank, and I hope the charges will be affordable like the TARRIF.

Switch to our mobile site