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An M-PESA payment register at a Kenyan coffee shop. M-PESA was first launched by the Kenyan mobile network operator Safaricom, where Vodafone is technically a minority shareholder (40%), in March 2007. [17] M-PESA quickly captured a significant market share for cash transfers, and grew to 17 million subscribers by December 2011 in Kenya alone. [1]
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.
Payment systems organizations (1 C, 14 P) Point of sale companies (4 C, 57 P) R. ... M-Pesa; Mahila Money; Manual fare collection; MAS Electronic Payment System; Meal ...
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
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.
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 ...
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.
Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later ...