In 2007, telecom giants Vodafone launched a mobile phone-based money transfer service in Kenya called M-Pesa. The service was rolled out for mobile network operators Safaricom and Vodacom.
Kenyans were given the opportunity to do via their phones, most of what they may do in financial institutions. These include depositing and transferring cash as well as paying bills and seeking soft loans.
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The service has so far spread to many other African countries making lives easier for hundreds of millions.