Vodacom and Nedbank have teamed up to offer mobile money services in South Africa.
The M-PESA solution enables unbanked customers to transfer money from person to person using a mobile phone. It is already offered in other African markets and…
Vodacom and Nedbank have teamed up to offer mobile money services in South Africa.
The M-PESA solution enables unbanked customers to transfer money from person to person using a mobile phone. It is already offered in other African markets and Afghanistan.
Nedbank is in talks with the banking regulator to ensure the project meets all requirements set out by the South African Reserve Bank.
The M-PESA service was initially created as a pilot jointly funded by Vodacom’s owner Vodafone and the UK Department for International Development Financial Deepening Challenge Fund. It has over 10 million customers in Kenya, Tanzania and Afghanistan.