Vodafone implements its M-Pesa payment system in South Africa

February 16, 2010 - 10:38am

A mobile operator Vodafone is implementing M-Pesa payment system in South Africa after its successful deployment in Kenya.

Since its launch in 2007 by Vodafone affiliate Safaricom M-Pesa has been implemented in Tanzania and Afghanistan. According to the latest figures over 10% of Kenya's GDP now pass through the mobile banking service.

Now Vodafone has partnered with an unnamed local financial institution to target the 26 million people in the country without official bank accounts. Vodafone says only 60% of South African adults have bank accounts but mobile penetration is over 94%.

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