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The Age of M-Pesa

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Re: The Age of M-Pesa

#12

Money transfer systems in developing countries are fascinating. Hawala[1] is one notable example – a remarkably fast, efficient and cost-effective system based on interpersonal relationships and trust. [1] https://en.wikipedia.org/wiki/Hawala

Absolutely. As one of the poorest countries in the world, remittances are crucial to Somalia’s economy.

Re: The Age of M-Pesa

#13
M-Pesa is a great project. Back in 2016 my team and I tried to replicate M-Pesa in Mexico for bank the unbanked people in rural areas, financial assistance and give them a type of basic income. Only Cisco México and Susie Wee supported us, the government wasn't interested in implementing that.

Here is a short description of the project:https://mundocontact.com/dinero-movil-ganador-del-solutions-...

Re: The Age of M-Pesa

#14
If you look at Google search trends for the last year African countries have been the top searchers for "bitcoin". This is something people in the West usually don't understand, having a secure money that's accessible with only a phone.

Re: The Age of M-Pesa

#15

M-Pesa is a great project. Back in 2016 my team and I tried to replicate M-Pesa in Mexico for bank the unbanked people in rural areas, financial assistance and give them a type of basic income. Only Cisco México and Susie Wee supported us, the government wasn't interested in implementing that. Here is a short description of the project: https://mundocontact.com/dinero-movil-ganador-del-solutions-...

Hi Juan, I was part of a team which built a mobile money (MPesa) only microfinance bank in Kenya. I now live in Mex (for family reasons). I’d love to chat to exchange experiences and what I’m working on now, which is related.

Re: The Age of M-Pesa

#16

M-Pesa is a great project. Back in 2016 my team and I tried to replicate M-Pesa in Mexico for bank the unbanked people in rural areas, financial assistance and give them a type of basic income. Only Cisco México and Susie Wee supported us, the government wasn't interested in implementing that. Here is a short description of the project: https://mundocontact.com/dinero-movil-ganador-del-solutions-...

Hi Juan, I was part of a team which built a mobile money (MPesa) only microfinance bank in Kenya. I now live in Mex (for family reasons). I’d love to chat to exchange experiences and what I’m working on now, which is related.

I too would like to share my experience with both of you and see if there is still an opportunity to do something along these lines. Email me at mpesa@mlke.net

Re: The Age of M-Pesa

#17

Money transfer systems in developing countries are fascinating. Hawala[1] is one notable example – a remarkably fast, efficient and cost-effective system based on interpersonal relationships and trust. [1] https://en.wikipedia.org/wiki/Hawala

Hawala is a pretty common way for people to send large sums of money between the USA and India. Amounts on the order of $100,000+ are not unheard of.

Re: The Age of M-Pesa

#18
i live in kenya and frequently use m-pesa, this service is too expensive, a charge for both sending and receiving money just won't fly, sadly it's backed by powers that be who constantly stiffle innovation in the payment space,

kenya is still in dark ages in fairness and plurality of payment systems.

Re: The Age of M-Pesa

#19
When I visited Kenya in 2012, I was fascinated to discover that this existed, and had been going strong for years already. Meanwhile in the US, money transfer seems dated by comparison. Crypto offers some hope, but the ecosystem is so fragmented and dominated by shady people.
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