M-Pesa

M-Pesa is a pioneering mobile phone-based money transfer, payments, and micro-financing service launched in Kenya in 2007 by Vodafone and Safaricom, which allows users to store, send, and receive money using a basic mobile phone via a vast network of authorized agents, effectively serving as a branchless banking system. The service, whose name combines 'M' for mobile and 'Pesa' (Swahili for money), has become a global benchmark for financial inclusion, providing access to formal financial services for millions of unbanked and underbanked populations across Africa and beyond.