M-Pesa has received the global certification from GSM Association indicating that it is safe for commercial transactions.
Global System for Mobile Communications (GSMA), a body that represents mobile network operators, said an independent evaluation of Safaricom’s capability to offer secure and reliable services, to combat money laundering and terrorism financing, and to protect the rights of consumers has proved resilient.
John Giusti said the GSMA Mobile Money Certification targets to increase customer confidence that a mobile money provider has put in place measures to make sure that funds are in safe hands.
“The certification is designed to enhance consumer trust and accelerate commercial partnerships by setting a high bar to which all providers can aspire,” he said.
Other operators that were certified during the Mobile 360-West Africa event were Vodacom Tanzania, Tigo Tanzania (Millicom Group), Côte d’Ivoire’s Orange, and Microfinance Bank Ltd. (Easypaisa Pakistan.
A three-year consultative process among mobile operators in Africa, Latin America, and Asia whose purpose was to comprehend the business problems that led to the creation of best practices for the identified markets was carried out before the certification.
Certification can be given to any mobile money operator, whether it is a bank, a mobile network operator (MNO), or any other payment services providers.
“Mobile money is directly advancing 13 of the 17 Sustainable Development Goals by facilitating access to essential services such as health and education, providing employment opportunities and reducing poverty,” he said.
M-Pesa was the first mobile-enabled money transfer platform which offers its services through 130,000 agents and which allows users to pay for services and goods at 50,000 outlets. M-Pesa has also collaborated with banks, saccos, international money transfer platforms, and government agencies where money is sent directly to individual accounts across the country.
Safaricom and Airtel recently launched mobile money interoperability that will enable direct mobile money transfers across networks.