13 Jul '13, 6am

M-PESA meets Bitcoin with new service in Kenya via @MobilePayToday

Known as one of the most innovative — and to date, successful — mobile money programs in the world, Kenya's M-PESA is now dabbling in virtual currencies thanks to a new service called Kipochi. According to an article on CIO , Kipochi is a new venture from Pelle Braendgaard and lets users of M-PESA buy bitcoins. Bitcoins can then be used for digital commerce or even to make cross border money transfers, something M-PESA users can't do now. Launched in 2007 by Safaricom and Vodafone, M-PESA operates in a number of sub-Sahara African countries as well as in Afghanistan and India. However, each M-PESA network is a separate entity in the country where it operates, and the networks aren't connected for cross border transfers. Currently, M-PESA boasts more than 11 million users in Kenya where the unbanked rate is especially high, yet more than 80 percent of the country's 44 milli...

Full article: http://www.mobilepaymentstoday.com/article/216119/M-PESA-...

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