Vodacom South Africa is exploring new ways to promote interest in M-Pesa, a mobile money transfer service that allows users to transfer money from person-to-person using mobile phone and text-messaging technology.
M-Pesa, a mobile service with 11 million users in Kenya, has provided millions of people with access to the formal financial system, but has struggled in South Africa. In 2010, Vodacom launched M-Pesa in South Africa with the aim of reaching 10 million users locally but it never really took off. In a bid to attract more users it was relaunched in 2014 with a less complicated registration process and 8 800 points of presence.
However, Vodacom’s 2015 report showed that only 76 000 people were using the service even though one million people had registered for M-Pesa in South Africa. With regards to M–Pesa, the report stated that, “progress has been slower than we’d like.”
Vodacom spokesperson Byron Kennedy commented further, “Vodacom conducts regular reviews of its investments and products, including M-Pesa South Africa (MPSA).”
“We can confirm that we are currently considering a range of options for MPSA but that no final decisions have been made.”