Commerce Txt By: Jim Puckalo For the Course FILM315 @ Queen's University, Kingston, ON
Jan 12, 2015
Commerce TxtBy: Jim PuckaloFor the Course FILM315 @Queen's University, Kingston, ON
Phone companies havelong allowed individuals..
Image courtesy of the U.S.National Archives on Flickr
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..to purchase “air-time”and to send this creditto other users.
(i.e., pre-paid cell phonecredit that can be usedfor voice or SMScommunication)
Source: The Economics of M-Pesa
In March 2007, Safaricomlaunched M-PESA, an SMS-based money transfer systemthat allows individuals to..
Image courtesy of the U. S.National Archives
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Deposit
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Send
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Withdraw..
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..funds using their cell phone.
Source: The Economics of M-Pesa
M-Pesa =
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M(obile)
+
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Pesa (Swahili for “Money”)
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In Kenya..
Money can bezappedzapped from onepart to another inseconds.
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For people used to queuing at banksfor hours to pay bills or school fees,the M-PESA money-transfer service isa godsend.
No wonder it is used by 9.5m people, or 23% of thepopulation, and transfers the equivalent of 11% ofKenya’s GDP each year.
Source: The Economist
Use M-Pesa
23%
If we think of Canada's population..
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1 in 4
Canadians wouldbe using M-Pesa
Or all of Bell Mobility's customers..
20%Of Canadians
use Bell
+a few more..
M-PESA has spread quickly andhas become the most successfulmobile phone-based financialservice in the developing world.
Source: The Economics of M-PesaImage courtesy of the AustralianWar Memorial collection
Afghanistan
Tanzania
South Africa
M-Pesa has nowexpanded into:
Image by Norman B. LeventhalMap Center at the BPL on Flickr
Tanzania
Afghanistan
South Africa
Not bad for a little SMS textmessaging service
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Presentation for#Film315 at
Queen’sUniversity,
Kingston, Ontario,Canada