This upgrade started in June, and went on for a number of weeks. This is the third upgrade in 10 years, and will automate some of the M-Pesa functions.
M-Pesa Logo | Source: Wiki Commons
Expected Efficiency after Upgrade
According to the service provider, the upgrade will reduce the need for customers to make requests to its call centre. It will also reduce the time that new partners take to join the mobile money system. This is expected to start taking a few hours from weeks. In addition, the M-Shwari and KCB M-Pesa will find their way in the Safaricom App.
The service provider believes that the upgrade will add more value to the service. And this will definitely be good for their customers and partners.
Next Phase of M-Pesa
The upgrade will pave the way for the next phase of the system, according to the Safaricom CEO Bob Collymore. The upcoming phase will definitely come with a fully revamped M-Pesa. The new service will bring about tremendous growth and provide even more value to the ecosystem.
Looking Back From the Launch of M-Pesa
The platform went live for the first time in 2007. It was a micro financing system then. Over the years, the Safaricom service grew to gain over 25 million customers.
It uses a mobile phone to send and withdraw money. It is also used to save money, pay bills and buy airtime. The “save money” works with M-Shwari – a mobile service that acts like a bank. Generally, it is a saving and loan product also developed by Safaricom.
You must have a national ID card to access M-Pesa from a Safaricom agent. You can also use a passport. There are over 40,000 of these agents in Kenya, according to surveys. You must also have a cellphone using a Safaricom line. In addition, you must be a registered M-Pesa user to use most of the services.