M-PESA is a remarkably successful mobile payments system launched in Kenya three years ago. Users are able to send money to each other conveniently from their M-PESA using only their mobile phones. A key to the success of M-PESA is the availability of an extensive network of retail shops that...

M-Pesa is a Small-Value Electronic Payment and Store of Value System that is Accessible from Ordinary Mobile Phones. It Has Seen Exceptional Growth Since its Introduction by Mobile Phone Operator Safaricom in Kenya in March 2007: It Has Already Been Adopted by 9 Million Customers (Corresponding...

Retail payment systems require scale to get off the ground and struggle to grow incrementally, as they need to build trust, reap network effects and overcome chicken-and-egg problems of acquiring both customers and merchants. To overcome these barriers, they must (i) create enough urgency in...

The contribution of mobile payments (and in particular M-PESA) in Kenya to strengthening family/social networks is well documented, and its potential to tackle financial inclusion is well understood. What has perhaps received less attention is how well mobile money is serving the business...