M-PESA: The Best of Both Worlds

The lack of financial inclusion in Kenya is fueled by an array of adverse policies and conditions. Many Kenyans live in isolated, rural areas, locations where banks see traditional establishments as extremely unprofitable. The marriage between technology and behavior of the Kenyan population, make M-PESA’s success real. M-PESA, a mobile banking and payment system in Kenya, represents the gold standard for innovative financial services. It creates an environment where even the most poverty stricken resident of a remote African village can become “financially included”.

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