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    100m newly 'banked' people: What mobile money has done in a decade

    It's pretty much accepted wisdom that Africa has been at the forefront of mobile payment tech for a while now. But how many of you knew that the first mobile financial service in an emerging market went live 10 years ago in Africa?
    11 May 2012
    11 May 2012

    Celpay, which is powered by South African-based company Fundamo, launched in Zambia way back in 2002. That's a full five years before Kenya's mobile darling MPesa went live.

    It was the first in a series of services aimed at banking the unbanked on the continent. In those 10 years, 100-million people have been newly 'banked' using mobile technology.

    Back then Fundamo was an independent company. Today it's wholly owned by Visa after being bought out for US$110-million.

    Read the full article on http://memeburn.com.

    Share this article

    Source: Memeburn

    Launched in April 2010 by Matthew Buckland, Memeburn is a news and opinion platform tracking tech culture, innovation and business. It plays particular attention to the web, mobile, social media, online media and social networking fields. Key opinion-leaders contribute to Memeburn, providing their insights on the online industry. Subscribe via email or RSS for regular updates. Follow memeburn on Twitter at @memeburn.

    Go to: http://www.memeburn.com
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