M-PESA at 18: A Legacy of Innovation and Financial Inclusion
What started as a simple idea to ease money transfers has grown into a financial revolution that has reshaped Kenya’s economy and influenced global mobile banking. M-PESA emerged as a game-changer, breaking barriers to financial access and empowering millions, from small-scale traders to large enterprises. By turning mobile phones into banking tools, it bridged the gap for the unbanked, offering a secure, fast, and affordable way to send, receive, and store money. Over the past 18 years, M-PESA has expanded beyond basic transactions to include services like savings, loans, and merchant payments, fueling entrepreneurship and economic growth. It has become more than just a financial tool—it is a symbol of Kenya’s innovation, setting a benchmark for mobile money solutions worldwide. From its inception, M-PESA thrived within a dynamic ecosystem of partners. Technology innovators ensured security and scalability, while financial institutions facilita...