M-Pesa struggling to take off in South Africa

Despite its success in East Africa, mobile money transfer service M-Pesa is struggling to take off in South Africa. Mobile operator, Vodacom, last year partnered with the country’s fourth largest bank, Nedbank, to launch M-Pesa. The service registered over 13 million subscribers in Kenya since 2007; in South Africa it currently only has 120,000 users. Analysts said that the slow uptake could be because of South Africa’s sophisticated banking infrastructure. Read the full article at Moneyweb.

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