Safaricom’s M-PESA service has successfully passed the GSMA Mobile Money Certification, a global initiative that defines and promotes excellence in the provision of mobile money services.
M-PESA met the criteria in eight areas of assessment, including: safeguarding of customer funds, service security, safeguarding of customer data and privacy, and mitigation against money laundering, terrorist financing, and fraud risks.
“The awarding of the GSMA Mobile Money Certification to M-PESA is a strong testament to the heavy investment we have made in people resources and financial investments, which have been critical to building such a robust service. This certification further reassures our customers of M-PESA’s reputation as a trusted, stable and reliable solution,” said Nicholas Mulila, Director – Risk Management, Safaricom.
Other areas assessed as part of the certification process include agent and staff management, reliable service provision, customer communication, customer service and management of customer complaints.
M-PESA becomes one of the first mobile money services to achieve this level of certification, cementing its position as a global leader in mobile money transfer and payments.
“The GSMA Mobile Money Certification is a consumer-focused initiative, aimed at giving customers confidence that a provider has taken steps to ensure their funds are in safe hands, their rights are protected and they can expect a high level of customer service,” said John Giusti, Chief Regulatory Officer, GSMA. “With over 690 million accounts globally, the mobile money industry is having a clear impact on the global effort to expand financial inclusion, providing access to life-enhancing financial services and serving as a gateway to the digital economy.”
Launched 11 years ago, the service began as a way for Kenyans to send money to informal savings groups, commonly known as “chamas,” before quickly evolving to fill the gap in person-to-person transactions within Kenya’s unbanked population. It has since grown to 27 million customers and more than 148,000 agents all over Kenya, with Safaricom investing heavily in the service’s infrastructure to position it as the most preferred cashless mode of payment for goods and services in Kenya and beyond.
Safaricom received the certification at the GSMA Mobile360 Event in Abidjan, Cote D’Ivoire.