M-PESA (M to possess mobile, pesa try Swahili for the money) try a cellular telephone-dependent currency transfer, funding and you can micro investment service, revealed in the 2007 from the Vodafone to have Safaricom and you can Vodacom. It also provides parents more of a reason to locate cellular phones for their college students with no genuine importance of having them airtime. Collymore oversaw the new addition on the field of various mobile currency products which have considering the organization influence certainly one of its competition. In the November 2012, Safaricom partnered with NCBA Lender and you may came up with a good “revolutionary” banking device, M-Shwari, that allows Yards-Pesa people to store and borrow cash due to portable when you are getting attention on the currency protected experiencing an underdeveloped monetary functions business.
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