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A brief introduction to Susie Lonie : Vodafone / Safaricom

A brief introduction to Susie Lonie : Vodafone / Safaricom. Empowering the Unbanked. M-PESA was designed to provide Financial Services for the many Kenyans without access to conventional banking. Originally a DFID co-funded pilot to make Finance more accessible.

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A brief introduction to Susie Lonie : Vodafone / Safaricom

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  1. A brief introduction to Susie Lonie : Vodafone / Safaricom

  2. Empowering the Unbanked • M-PESA was designed to provide Financial Services for the many Kenyans without access to conventional banking • Originally a DFID co-funded pilot to make Finance more accessible • Business based upon high volumes of low value transactions

  3. What is M-PESA ? • Money transfer by SMS • Fast, Safe, and Easy to use • Available to anyone • no need for a bank account • no joining fee • no monthly charges • no minimum balance • Pay As You Go charging model

  4. M-PESA today • Go to an M-PESA Agent to: Buy M-PESA e-money • Deposit money your M-PESA account Sell M-PESA e-money • Withdraw your e-money as cash • send money to another by SMS instruction • buy Safaricom prepaid airtime

  5. Launch Proposition

  6. Cash In / Cash Out • Local shops register as Cash In/ Out Agents • Currently over 360 Agents nationwide • many are Safaricom airtime dealers • others are petrol stations, supermarkets… • Agents have both cash & e-money floats • Network being extended to include banks

  7. Registering for M-PESA Go to an Agent to register: • You may need a free “new . generation” SIM card* • Register your account • Send M-PESA an SMS M-PESA will send you a new menu * All SIMs since October are new generation

  8. Buying M-PESA value Go to an Agent to buy M-PESA e-money • Agent uses his phone to send e-money to your M-PESA account • You both receive an SMS confirmation • You give him cash in return

  9. Sending M-PESA value • In your M-PESA menu pick “send money” & enter • Recipient phone number • How much you want to send • Your secret PIN You both receive SMS confirmation of the transfer

  10. SMS Instruction SMS Instruction Withdraw cash From Agent Give cash To customer Transaction information Withdrawing cash CLIENT Can I withdraw $10? AGENT Yes MOBILE NETWORK M-PESA ACCOUNT MANAGER M-PESA ADMIN AGENT CLIENT A

  11. How does M-PESA work ? • M-PESA is electronic value [e-money] backed by real money in a conventional bank account • Users can • buy e-money for cash • send it to others by SMS instruction • sell e-money in exchange for cash • Safaricom has the Trust Account with the real money • M-PESA records to whom that money belongs

  12. Moving M-PESA in the system • Agents buy M-PESA e-money for their store floats by depositing money into the M-PESA bank account • Clients buy it for Cash M-PESA E-MONEY ACCOUNTS AGENT 1 CLIENT A $ 1,000 AGENT 2 CLIENT B $ 1,000

  13. M-PESA E-MONEY ACCOUNTS NAIROBI AGENT SUSIE $ 1,000 MERU AGENT MOTHER $ 1,000 Moving M-PESA in the system 1. Susie buys $20 at Nairobi Agent 2. Susie sends it to Mother 3. Mother cashes $20 at Meru Agent X X X X X $ 980 $ 20 X X X X X $ 20 $ 1,020

  14. What does it cost ? • M-PESA is very competitively priced • A full tariff is available. Example charges are: *whether subscribed to Safaricom or another network

  15. Future M-PESA Services Many other services are being developed • International Money Transfers with Citigroup • Salary Payments • Utility payments - rent, pension contributions etc • Merchant payments [in store] • Facilitating Microfinance and Banking services • Government Social Payments • Cash free “cash on delivery”

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