April 1, 2014
M-Pesa - Vodafone’s mobile money transfer and payment service – has been quite successful in some emerging markets such as Egypt, Kenya and other African Countries. It has also been launched in some large Asian markets such as India. On 31st March 2014, the company announced the launch of M-Pesa in Romania to enable nearly 6 Million of its citizens that mainly deal with cash transactions. Overall M-Pesa is being positioned by Vodafone as an emerging markets solution.
'The majority of people in Romania have at least one mobile device, but more than one third of the population do not have access to conventional banking, said Michael Joseph, Vodafone’s Director of Mobile Money. Vodafone M-Pesa is already used regularly by nearly 17 million customers and we look forward to bringing the significant benefits of the service to the people of Romania.
According to Vodafone, M-Pesa had approximately 16.8 million active customers as at 31 December 2013 and approximately 186,000 authorised agents worldwide. The company also says that its customers do over €900 Mn worth of P2P transactions every month. The addition of Romania continues the expansion of M-Pesa globally, following the launches in Egypt, India, Lesotho and Mozambique, over the last year.