Hello Mobile-Financial Folks,

Have you heard the news yet?  Safaricom’s M-PESA is going international.   M-PESA, with close to 8 million subscribers, will soon allow customers across the UK to send money directly to the mobile wallets of M-PESA subscribers in Kenya.   The service is being launched after a successful pilot that occurred at select Western Union, Provident Capital Transfers, and KenTV outlets in the UK during the past 3 months.  

This is a significant development for the mobile financial services industry, as it represents the evolution of mobile money transfers, from domestic services to cross border mobile driven solutions.   If Safaricom’s UK to Kenya money transfer corridor is successful, it can be safely assumed that Safaricom will expand its international footprint to other send markets around the world.  In addition, we can expect that other mobile money services from Safaricom's competitors will follow up with cross border offerings of their own.  For more details on this announcement, please click here for the announcement from Safaricom. 

If you are interested in learning more about this service and are based in Canada, make sure to attend Mobile Money Canada on November 10 2009.  The head of Western Union’s mobile channel, Matt Dill, will be presenting at Mobile Money Canada and will share his insights on the market and opportunities for cross border mobile money transfers.   For more information about Mobile Money Canada, please click here. 

---

Name: Brent Ho-Young Title: Principal, Mobility Practice Company: DonRiver View Brent Ho-Young's Blog