On 31 August, Vodacom and Nedbank launched the first fully-mobile money transfer service in South Africa, M-PESA.
Having a high success rate in Kenya, Vodafone brought the technology to South Africa as a means of providing everyone access to sending and receiving money. Not everyone has a bank account but a lot more South Africans own cellphones making banking more accessible. In addition, this service can be used across networks – all you need is a cellphone and a Nedbank ATM or M-PESA outlet.
