Why M-Pesa would not succeed in US or Britain

Editor, RE: “How mobile money demystified Africa for investors” (The New Times, September 18).

Editor,

RE:How mobile money demystified Africa for investors” (The New Times, September 18).

 

The primary reason for the failure of M-Pesa type money transfer system in South Africa is technological and partly regulatory – tougher banking rules. South Africa’s financial services sector is much better developed than in the rest of Africa, thus reducing the need for mobile banking services. It is same reason M-Pesa would not succeed in, say the US or Britain. Think ubiquitous use of cards and e-commerce. It is cashless and better regulated.

 

Imboko Ndiranga

 
You want to chat directly with us? Send us a message on WhatsApp at +250 788 310 999    

 

Follow The New Times on Google News