M-PESA: Dubbed The Most Successful African Mobile Money Service
This mobile payment solution may be Africa’s most significant Fintech discovery this century. M-PESA caters to about 50 million customers and more, with and without existing bank accounts, across eight countries in the continent.
On March 6, 2007, Safaricom released this exquisite innovation in M-PESA for use mainly in Kenya. Now, it’s accessible in Tanzania, Mozambique, Ghana, Egypt, Lesotho, and DR-Congo. Note that M-PESA solutions had recently crossed the sun-stoaked coasts of South Africa.
Keep reading to learn more about the properties that make M-PESA popular among African punters.
Do All Your Banking on Your Smartphone
All you need to do with M-PESA occurs right on your mobile phone. Telecommunication and banking institutions have recently collaborated to create accessible and electronic payment routes for customers who need to deposit or withdraw funds.
This collaboration has led to the development of financial solutions like M-PESA. In addition to having your payment done electronically, you need not own a traditional bank account to use it. Therefore, unbanked individuals can pay and receive money through M-PESA.
M-PESA has brought about a solution, especially when many gamblers in Africa face limiting factors such as long distances from banking offices. Once you register as a merchant with M-PESA, you can instantly pay or receive money from your online gambling account and help others.
Be One of the 51 Million Africans to Take Control with M-PESA
What are you waiting for? Are you in Ghana for beach time, in Egypt to see the magnificent pyramids, or are you around for the undefeated Savanna sights in Tanzania? We implore you to seek out M-PESA and witness its prowess of undefeated payment speed.
To experience M-PESA truly, you have to belong to the society. Follow the following steps to become a user of the M-PESA payment scheme:
- wherever you may be within the rough edges of the African continent, finding a M-PESA agent should be your first goal;
- present a mobile phone, preferably with a Safaricom sim card;
- submit additional verification documents such as your National ID card;
- afterwards, the agent will register your phone number and link it virtually to their M-PESA account;
- subsequently, you can make unprovoked deposits and withdrawals with the M-PESA payment solution.
What Drives the Use of M-PESA Among African Bettors?
What properties drove over 50 million individuals towards this payment solution? However, we have the reasons listed below:
- Serves both the banked and unbanked: You do not have to own an account with the local banking institutions before using M-PESA. This characteristic appeals to punters in areas far from any Automated Teller Machines (ATMs) or banking offices.
- Standard option on African online casinos: You could find M-PESA as a payment option on 80% of online African casinos if you go looking. Hence, bettors will have no difficulty choosing a reliable gambling website with a banking solution.
- Easy accessibility on smartphones: Payments are made easy with M-PESA mobile solutions. You can seek out merchants to make your payments. You can also become an agent to start using the banking system.
Top-Up Your Casino Wallet With M-PESA Fintech Solution
The first activity is to research the online casino you wish to play on. If the African gambling site offers M-PESA payments, you can go ahead. To instigate payment into your gambling account from your M-PESA account, do the following:
- log into your casino account;
- navigate to the payment method;
- select M-PESA;
- enter the necessary details and follow the subsequent steps to complete.
Deposits with M-PESA are immediate. However, you might have to pay a certain amount as charges on most, if not all, occasions. Review your limits by logging into your Neteller account to avoid transactional issues.
Save Your Winnings with M-PESA Quick Withdrawals
Withdrawals are as straight as deposits. Transactional charges may be slightly higher, and you may experience a more extended completion period of up to three banking days. Just as you did for your deposit, confirm your limits first.
Proceed to your online casino, select M-PESA for your withdrawals, enter your account details, and input the amount you wish to withdraw. Follow the subsequent steps to finish this process; in no time, you will enjoy the fruits of your labour.
Is M-PESA the Best Choice for Africans?
Indeed, this payment method caters to several millions of individuals across many African landscapes. However, upon review and comparison to other African banking systems, we can not hurriedly conclude that M-PESA is the best choice for African punters.
Upon reviewing the comments of many users of M-PESA in Africa, we noted one too many complaints about its accessibility, high charges, and the length of the completion period. There may be other African payment methods that surpass M-PESA.
Also, there are concerns about the safety of funds on M-PESA as it does not present a different idea for keeping customers’ funds safe from the existing classic techniques. However, we can not dispute the exclusiveness of M-PESA and its recognition amongst several African punters.
How Secure is M-PESA?
We reiterate that many users feel concerned about M-PESA mobile money system security. For instance, in Kenya, no data protection laws could prevent organizations such as Safaricom from releasing customers’ details to third-party persons.
The data scandal in 2019 in Kenya is a case in point. Investigations show that information on over ten million account owners was up for sale on the dark web. The security risk is still one of the few concerning features of M-PESA.
Moreover, there shall be weaknesses to note occasionally on platforms with massive influence across an entire continent. In this way, we recommend that you use M-PESA for small payments, which means it is not suitable for use by high rollers.
Can I use M-PESA in Africa?
Yes. M-PESA is primarily accessible in Kenya, Tanzania, Mozambique, Ghana, Egypt, Lesotho, DR-Congo, and South Africa.
How do I know the limits of my transactions?
Consult with the M-PESA agent that facilitated your registration. They will expose you to information regarding limits related to your account.
Is M-PESA safe?
There have been worries over the years about the safety of M-PESA. There has once been a case of security leaks where information on several million users was out on the dark web.
Can I make withdrawals with M-PESA?
Yes. You can always withdraw back to your M-PESA mobile account. However, you must first confirm whether your chosen casino platform offers this payment option for withdrawal purposes.
M-PESA is African to the core. Its origination had only begun in the savannas and rift valleys of Kenya. Ever since, it has spread to multiple other countries within the African continent, reaching as far as its southernmost country.
The essence of our review is to shed light on the upsides and downsides of using this payment method by Africans on various online casino platforms. You can always read over it in case you have missed any information.