11th Feb 2008 07:01
Vodafone Group Plc11 February 2008 10 February 2008 M-PESA REACHES 1.6 MILLION CUSTOMERS IN 12 MONTHS Kenyans now able to send and store money safely and securely Safaricom and Vodafone today announce that M-PESA, the innovative mobile moneytransfer service launched in March 2007, now has 1.6 million customers. The benefit of facilitating micro transactions via text in a land like Kenyawhere, in 2007, there were 400 bank branches, 600 cash dispensing machines andover 10 million mobile phones is plain to see. In the first 18 weeks alone 200,000 customers signed up for the service. 12months later the results are impressive with over 1.6 million registeredcustomers, and approximately 200,000 additions per month. M-PESA is used by customers for a wide range of money transfer transactions,with an average value of Euro 30. Companies also use the service: Safaricom payscasual workers and has distributed 40,000 low value cash prizes to itssubscribers using M-PESA. A number of small businesses, such as taxi drivers andgrocers, accept it as an alternative payment mechanism and it is often used byconsumers as a secure method of storing & transferring money in dangerous times. Looking to the future, Vodafone anticipates that pension payments, and thepayment of standard services such as Safaricom contract phones, water andelectricity charges will also be made by mobile money transfer. Michael Joseph, CEO of Safaricom said: "M-PESA is a service designed to meet thecore needs of our customers in an emerging market. The fact that it has had astrong take up in such a short time demonstrates its potential to drive positivechange." Vodafone also today announced that Afghanistan will be the second market tolaunch a mobile money transfer service for mobile customers. The company hasalso announced that India and other African markets will soon join Kenya andAfghanistan in bringing this safe and secure service to millions more people. Nick Hughes, Head of International Payments at Vodafone said: "Vodafone isextremely pleased by the success of M-PESA. During the course of this year weplan to continue to extend of the uses of the service in Kenya and seek newmarkets where the benefits of mobile money transfer can be used to assist peoplein sending funds safely and securely." - ends - For further information: Vodafone Group Investor Relations Media RelationsTel: +44 (0) 1635 664447 Tel: +44 (0) 1635 664444 About Vodafone Vodafone is the world's leading international mobile communications group withequity interests in 25 countries across five continents and over 252 millionproportionate customers at 31 December 2007, as well as 40 partner networks. Forfurther information, please visit www.vodafone.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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