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M-PESA - Changing Lives
Michael JosephStrategic Advisor, Vodafone Money Transfer22nd March 2011
Population approximately 39
Million
78% of the population is rural
22.6 % adults have a formal Bank
Account
Literacy at 85 %
80% have access to a mobile
phone
GDP per Capita: USD 1,600
(CIA Fact Book 2009)
*FinAccess 200
Kenya at a Glance
M-PESA: Humble Beginnings!
Capitalizing on Mobile Technology to deepen access to Financial Services
Pilot
2005 2006
Initially for MFILoan Repayment
National Launch
2007
Branded as a money
transfer service
Expansion of
Functionality
2008-2010
More Customer Driven
Innovations
2011
Pre Pay Visa Card, Expansion of IMT
M-KESHO, Buy Goods, M-Ticketing, School
Fees, Expanded Tariffs
Over 13.5 customers as at 31st January 2011
M-PESA Customers
Growing M-PESA to meet Customer Needs
ATM Withdrawals - 24/7 access
to cash at over 700 ATM’scountrywide
Airtime Purchase - Top Up anywhere any time
More Choice for our Customers
Pay Bill Services (Customer to Business)
Over 600 Pay Bill Partners Facilitating payment of regular &
utility bills M-PESA to Bank Deposits &
Withdrawals.
More Choice for our Customers
Buy Goods Service - Payment of goods & services at merchant outlets
International Money Transfer Roll out to 48 countries in partnership with
Western Union Money sent directly to recipient’s M-PESA
account.
More Choice for our Customers
M-KESHO: Another World First!
First mobile enabled banking service (demystifying banking to the unbanked)
Empowering the unbanked in partnership with Equity Bank
Features
Savings account (deposits as low as USD 1.40)
Interest on savings
Emergency Credit –Interest Free
Personal Accident cover (upgradeable to personal insurance cover after one year)
No cost to Deposit
No Ledger Fees
Zero minimum balance
More Choice for our Customers
M-PESA Ticketing – Customers can purchasetickets online through M-PESA Agent outlets
Pay School fees – Payment of school fees to partner schools and education institutions
More Choice for our Customers
M-PESA Pre Pay Visa Card Prepay Visa card topped up by
M-PESA.
Facilitates electronic Commerce locally and internationally.
Cash withdrawal at VISA enabled ATMs worldwide.
Maximum balance of KShs.500,000
More Choice for our Customers
Bulk Payments (Business to Customer)
Salary Disbursements Loan Disbursements Promotion cash prize payments Dividends Payments
Over 300 B2C Partners
Winning Partnership’s: M-PESA for Organizations!
Building a Great Distribution Network!
Over 24,000 Agents countrywide
Quality agents, adequately serving an ever growing subscriber base
Agents from diverse sectors e.g. Supermarkets, Banks, Fuel Stations, Pharmacies.
M-PESA Agents
Role of M-PESA Agents
Cash In / Cash Out Services
Register M-PESA Customers
Customer Education
Compliance with Safaricom AML
& KYC Policy
Compliance with Safaricom
Business practices
Branding of Outlets to enhance
visibility
Working with Agents
Enhanced relationships with agents to foster loyalty. E.g. Principal Forums, Quarterly Agent Awards, Shop Assistant training, Agent Delight Studies
Aggregator Model to improve agent penetration.
Creating additional revenue streams for Agents. E.g. Digital Villages, M-KESHO, M-Ticketing
Operational Support for Agents – Strong back office support
Float and Cash Management
Introduction of super-agency to improve liquidity among agents.
Easy access to loans through partnership with banks. E.g. M-kopo na KCB
Theft Insurance product
M-PESA Continuously Changing Lives!
o Resettlement of Post Election Violence IDPs
o National Famine Relief Fund
o Gender Violence Recovery Programmes
o Mater Heart Run – Open heart surgery for children from under privileged backgrounds
Facilitating Social Collections & Disbursements!
Lay Away Program (by Kick Start International)
Scheme allows farmers to save towards purchase of irrigation pumps
Savings submitted via M-PESA
Kilimo Salama Program (by UAP Insurance)
Insuring farmers against crop failure
Premium collection and settlements done via M-PESA
M-PESA making a Mark in Agriculture!
o Repayment of Higher Education Loans.
o Payment of School Fees
M-PESA and Education!
Safaricom has a dedicated department to support
M-PESA employing over 350 staff members.
Over 50,000 Kenyans are
directly employed by
M-PESA Agent outlets.
M-PESA Creating Jobs & Opportunities!
M-PESA driving creativity as staff members are
encouraged to continuously innovate products that
meet customer needs
Collection of Health Insurance
premiums -National Health
Insurance Fund (NHIF) and
other HMOs
Payment for In and Outpatient
services at Hospitals
Grundfos LifeLink Clean & safe drinking
water Reduction in water
borne diseases
Enhancing the Health of our People!
• M-PESA customers save approximately 3 hours per transaction Spare time saved is used for economic generating activities. e.g.
Farming
• M-PESA customers save USD 3 per transaction Savings are used mainly to buy food.
0%
5%
10%
15%
20%
25%
30%
35%
How Time Saved is Utilized
Enhanced Livelihood through Cost and Time Savings
4 time winner of GSMA Awards
• 2008 – Best Broadcast Commercial
• 2008 – Best use of Mobile for Social and Economic Development
• 2009 – Best Mobile Transfer Service
• 2010 – Best Mobile Transfer Service
• 2011 – Best Mobile Money Service for the Unbanked’
2007/2008: Kenya Banking Awards, Product Innovation
2008: World Business & Development Award, Contribution towards
millennium goals
2008: Stockholm Challenge, Economic Development Category
2008: Africom Awards, Best Business Solution for Rural Services
2009: UN-Habitat Business Award, Best Business Practices
2009: Mobile Content Award, Best Mobile Transfer Service
2010 :Mobile Content Award, Best Mobile Money Transfer Service
Globally Recognized
Touching the lives of Kenyans!
M-PESA Documentary