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Aine Seitz McCarthy
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M-PESA

9/19/2012

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Mobile money services, like M-PESA and Airtel Money, are revolutionizing financial transactions all over Tanzania. With a photo ID (just to register), a cell phone line (which many people, and most households, already have)  and a password, a person can send money to a sick relative, pay electricity bills, buying phone credit, pay taxes, buy internet time and have a safer mattress under which to store her living stipend. In Kenya (where M-PESA originated) mobile money services are used by 70% of the adult population and around 25% of Kenya's GNP flows through it.

In Tanzania, where opening a bank account requires years of administrative paperwork and hoop-jumping, the efficient simplicity and of these accounts is taking the country (world?) by storm. [Actually, The Economist thinks regulators are holding back the storm in India and China].
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10/7/2013 10:13:50 am

First time here at your blog and wanted to say hi.

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    Aine Seitz McCarthy

    International development, economics and some pretty ambitious ideas from a stubborn graduate student clinging to her sense of adventure.


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