Bank on it

The residents of Kenya have traditionally relied on family, friends, or hired deliverers to transport money. The reason is that a high percentage of the nation's population does not use banks, which are usually costly, time-consuming, and risk-prone entities to deal with. This article examines how global telecommunications company Vodafone (Newbury, England) developed an innovative mobile technology system--named M-PESA--that allows Kenyans to perform banking operations via their cellular telephones. In doing so, it discusses how Vodafone initiated this project and generated the public funding and support needed; it describes how Vodafone developed this concept. It looks at the three functions that the service--which Vodapone developed in conjunction with England's Scientific Generics (now known as Sagentia)--provides; it overviews the process of using this service. It then details how Vodapone overcame its primary project challenge--assuring the Kenyan government that the service was secure and legitimate, a
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