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M-PESA under investigation
Safaricom CEO, Michael Joseph. Photo/FILE
“The M-Pesa money transfer system is very good, but it can be used by bad people,” he said.
The Kenya Bankers Association has in the past called for regulations for the mobile money transfer over the possibility of the system being used for money laundering.
An international money transfer launched by Britain-based Vodafone, a shareholder in Safaricom on Monday, is expected to build on the success of M-Pesa.
Vodafone said the service would allow customers to send remittances from Western Union stores directly to Safaricom mobile subscribers in Kenya within minutes.
“The successful take-up of M-Pesa in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,” said Mr Nick Hughes, Vodafone’s head of international mobile payments.
