M-Pesa, Vodafone Group’s mobile money transfer and payment service, has arrived in Europe for the first time, after launching in Romania yesterday. M-Pesa is based on simple text messaging technology and operates over any of Vodafone Romania’s mobile network connections. Romanian customers will be able to transfer as little as RON1 (USD0.31) up to RON30,000 per day. Vodafone Group’s Director of Mobile Money, Michael Joseph, commented: ‘The majority of people in Romania have at least one mobile device, but more than one third of the population do not have access to conventional banking. Vodafone M-Pesa is already used regularly by nearly 17 million customers and we look forward to bringing the significant benefits of the service to the people of Romania.’
Developed by Vodafone, M-Pesa had approximately 16.8 million active customers as at 31 December 2013 and approximately 186,000 authorised agents worldwide. The company has stated that M-Pesa customers make in excess of EUR900 million (USD1.2 billion) worth of person-to-person transactions per month. The addition of Romania continues the expansion of M-Pesa globally, following launches in Egypt, India, Lesotho and Mozambique over the past twelve months.