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A brief introduction to Susie Lonie : Vodafone / Safaricom. Empowering the Unbanked. M-PESA was designed to provide Financial Services for the many Kenyans without access to conventional banking. Originally a DFID co-funded pilot to make Finance more accessible.

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A brief introduction to Susie Lonie : Vodafone / Safaricom

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A brief introduction to

Susie Lonie : Vodafone / Safaricom


Empowering the Unbanked

  • M-PESA was designed to provide Financial Services for the many Kenyans without access to conventional banking

  • Originally a DFID co-funded pilot to make Finance more accessible

  • Business based upon high volumes of low value transactions


What is M-PESA ?

  • Money transfer by SMS

  • Fast, Safe, and Easy to use

  • Available to anyone

    • no need for a bank account

    • no joining fee

    • no monthly charges

    • no minimum balance

  • Pay As You Go charging model


M-PESA today

  • Go to an M-PESA Agent to:

Buy M-PESA e-money

  • Deposit money your M-PESA account

    Sell M-PESA e-money

  • Withdraw your e-money as cash

  • send money to another by SMS instruction

  • buy Safaricom prepaid airtime


Launch Proposition


Cash In / Cash Out

  • Local shops register as Cash In/ Out Agents

  • Currently over 360 Agents nationwide

    • many are Safaricom airtime dealers

    • others are petrol stations, supermarkets…

  • Agents have both cash & e-money floats

  • Network being extended to include banks


Registering for M-PESA

Go to an Agent to register:

  • You may need a free “new . generation” SIM card*

  • Register your account

  • Send M-PESA an SMS

M-PESA will send you a new menu

* All SIMs since October are new generation


Buying M-PESA value

Go to an Agent to buy M-PESA e-money

  • Agent uses his phone to send e-money to your M-PESA account

  • You both receive an SMS confirmation

  • You give him cash in return


Sending M-PESA value

  • In your M-PESA menu pick “send money” & enter

    • Recipient phone number

    • How much you want to send

    • Your secret PIN

You both receive SMS confirmation of the transfer


SMS Instruction

SMS Instruction

Withdraw cash

From Agent

Give cash

To customer

Transaction information

Withdrawing cash

CLIENT

Can I withdraw $10?

AGENT

Yes

MOBILE NETWORK

M-PESA

ACCOUNT MANAGER

M-PESA

ADMIN

AGENT

CLIENT A


How does M-PESA work ?

  • M-PESA is electronic value [e-money] backed by real money in a conventional bank account

  • Users can

    • buy e-money for cash

    • send it to others by SMS instruction

    • sell e-money in exchange for cash

  • Safaricom has the Trust Account with the real money

  • M-PESA records to whom that money belongs


Moving M-PESA in the system

  • Agents buy M-PESA e-money for their store floats by depositing money into the M-PESA bank account

  • Clients buy it for Cash

M-PESA E-MONEY ACCOUNTS

AGENT 1

CLIENT A

$ 1,000

AGENT 2

CLIENT B

$ 1,000


M-PESA E-MONEY ACCOUNTS

NAIROBI AGENT

SUSIE

$ 1,000

MERU AGENT

MOTHER

$ 1,000

Moving M-PESA in the system

1. Susie buys $20 at Nairobi Agent

2. Susie sends it to Mother

3. Mother cashes $20 at Meru Agent

X X X X X

$ 980

$ 20

X X X X X

$ 20

$ 1,020


What does it cost ?

  • M-PESA is very competitively priced

  • A full tariff is available. Example charges are:

*whether subscribed to Safaricom or another network


Future M-PESA Services

Many other services are being developed

  • International Money Transfers with Citigroup

  • Salary Payments

  • Utility payments - rent, pension contributions etc

  • Merchant payments [in store]

  • Facilitating Microfinance and Banking services

  • Government Social Payments

  • Cash free “cash on delivery”


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