M-PESA – Competitor Profile

M-PESA is a mobile-based fund transfer and micro-level banking service available to customers of Safaricom, Kenya’s largest mobile network. Introduced in 2007, the service has become a primary channel for fund transfers in the country.

Originally developed as a low-cost microfinance loan repayment system, it was extended as an open platform to remit funds and make consumer payments due to its rising popularity. This was largely a result of factors such as the high cost of remitting funds through banks, a lack of banking facilities, low card penetration, minimal card acceptance infrastructure, and the high costs of dealing with cash in Kenya. Users can register for the service at an authorized M-PESA agent and transfer money from an M-PESA account to recipients via mobile phone. In addition to money transfers, M-PESA users can also carry out ATM cash withdrawals as well as online and in-store payments using mobile phones. Safaricom expanded its services to include NFC-based in-store payments in May 2017. In November 2018, Safaricom introduced M-PESA Global, enabling users to make mobile cross-border fund transfers through its partnership with PayPal and Western Union.

In April 2020, Vodacom and Safaricom completed the acquisition of the M-PESA brand, product development, and support services from Vodafone through a newly created joint venture.

The report provides information and insights into M-PESA including –

– Detailed insight into its business

– Comprehensive coverage of its products and services

– Comparative assessment with key alternative payment solutions

– Information on its performance, including its revenue model

– The company's important events and milestones


– In March 2007, M-PESA was launched in Kenya.

– In March 2015, M-PESA launched mobile-based account KCB M-PESA.

– In November 2017, Safaricom launched ecommerce marketplace Masoko in Kenya, offering users M-PESA’s online payment service as the main payment method.

– In June 2021, M-PESA launched M-PESA Super App for individual users and M-PESA for Business App for business customers.

Reasons to buy

– Gain insights into M-PESA's business operations and key events.

– Gain insights into its product portfolio.

– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Companies mentioned




Table of Contents

Table of Contents



Performance Highlights

Revenue Model

Products and Services

Significant Events

Supporting Money Transfer Services



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