It's no secret why Kenya-ranking 83rd as an economy, right after Guatemala and before Puerto Rico, according to the CIA Factbook—should be in the company of big, developed, and integrated markets like the United States and Canada, and city-state powerhouses like Singapore. The success of M-Pesa has created an alternative payment network in Kenya, making it, in terms of sheer usage, one of the most advanced markets in the world.
In Kenya, the the MasterCard Mobile Payments Readiness Index story is less about payment protocol than it is about the levels of usage and awareness M-Pesa has fostered there.Download the Report
What you need to know:
|Low Environment, Infrastructure, and Financial Services scores are part of the reason for M-Pesa's success|
|M-Pesa is closed loop; users must be Safaricom customers|
|Kenya has the world's highest rate of P2P payments familiarity at 89% and a reported usage level of 70%|