How Cellphone Technology Can Mobilise Microfinance

This presentation, commissioned by the mobile network operator, Vodafone, describes how cell phone technology can mobilize microfinance. It focuses particularly on Vodafone's M-Pesa Project, located in Kenya.The presentation details the:

• Main features of Vodafone;
• Advantages of using a mobile phone;
• M-Pesa project, that aims to:
  • Improve the efficiency of microfinance by using mobile technology to make transactions faster, cheaper and more secure;
  • Create a mobile-enabled version of an existing microfinance system, by partnering with Kenyan businessmen;
• Transaction types that M-Pesa can support;
• Expected benefits like:
  • Consumer convenience;
  • Security;
  • Real time view of cash flow;
  • Reduction in the costs of the microfinance institution.
• Status of the Microfinance-Pesa business trial that is being held in various provinces of Kenya;
• Challenges faced by this technology:
  • Need to fine-tune the technology;
  • Business processing, and training the consumers and the regulator.

The presentation concludes with a look into the future and identifies:

• Further concepts to be launched in Kenya;
• Other countries that are interested in the concept;
• The goal of low-cost international remittances.