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Safaricom takes on plastic money with mobile wallet

25 June 2013, 12:06

Nairobi - Business Daily reports that Safaricom on Monday launched a new financial service that enables consumers to pay for goods and services using mobile money without incurring transaction charges.

The mobile phone company launched what is effectively a mobile money wallet as it deepened its foray into the financial services market, aiming to take control of Kenya’s transformation into a cashless economy and reap its benefits.

Though the service Lipa Na M-Pesa is not the first mobile money wallet to be launched in the Kenyan market, its leverage on Safaricom’s large customer base, a wide network of agents and massive marketing muscles puts it in a class of its own.

- For more visit Business Daily

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