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M-PESA is a branchless banking service; M-PESA customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents. M-PESA spread quickly, and by 2010 had become the most successful mobile-phone-based financial service in the developing world. [4]
M-Pesa has a wide range of financial services including Person to Person, ATM withdrawal, Payments, Bulk Payments and Bank to M-Pesa. As of January 2016, M-Pesa is used by 21.8 million Kenyans, with over 1.5 million of M-Pesa users using the bill payment feature. At the time M-Pesa had a network of over 90,000 agent outlets.
The following is a list of notable online payment service providers and payment gateway ... Heartland Payment Systems: Online, [2] POS, mobile: ... M-Pesa: Mobile: ...
The payment could be deducted from a pre-paid account or charged to a mobile or bank account directly. Mobile payment method via NFC faces significant challenges for wide and fast adoption, due to lack of supporting infrastructure, complex ecosystem of stakeholders, and standards. [25] Some phone manufacturers and banks, however, are enthusiastic.
Pages in category "Payment systems" The following 200 pages are in this category, out of approximately 226 total. ... M-Pesa; Mahila Money; Manual fare collection;
Since 2009 Kenya's largest mobile phone company extended its mobile phone bank transaction payment system M-Pesa to be used for the payment of water utility bills. [77] As of 2012 more than 12 million Kenyans and 85% of the urban population use mobile phones for Bank transactions.
Retail System, known formally as the Automated Clearing Settlement System (ACSS), run by Payments Canada Cayman Islands: Cayman Islands Automated Clearing House [20] Chile: Centro de Compensación Automatizado (CCA) [21] China: Bulk Electronic Payment System (BEPS) [22] Colombia: ACH-Colombia and CENIT Costa Rica
EFT transactions are known by a number of names across countries and different payment systems. For example, in the United States , they may be referred to as "electronic checks " or "e-checks". In the United Kingdom , the term " BACS Payment", "bank transfer" and "bank payment" are used, in Canada , " e-Transfer " is used, while in several ...