# M-Pesa

> Source: https://docs.barcoder.ai/docs/wallets/m-pesa
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [M-Pesa — Safaricom](https://www.safaricom.co.ke/mpesa)
- [M-Pesa — Wikipedia](https://en.wikipedia.org/wiki/M-Pesa)

## Overview

**M-Pesa** is **Africa's largest mobile-money service** + the world's foundational mobile-money platform — launched **March 2007 by Safaricom in Kenya** + now operated by the **M-Pesa Africa joint venture** between **Vodacom + Safaricom** <sup>[1][1], [2][2], [Kenya report](https://docs.barcoder.ai/docs/payments/KE)</sup>. By **financial year ending 31 March 2024**, M-Pesa reached **66.2+ million customers** across 7 African markets. The system processes **21 billion transactions annually** with **100+ million daily transactions in Kenya alone**. The September 22, 2025 platform upgrade affected **50+ million M-Pesa customers across Africa**, illustrating continental scale.

## History

**March 2007 — Launched in Kenya by Safaricom** <sup>[2][2]</sup>: Originally developed with DFID funding as a microfinance loan-repayment tool; evolved into general-purpose mobile money.

**2008-2015 — Pan-African expansion** <sup>[2][2]</sup>: Tanzania, Mozambique, DRC, Lesotho, Egypt, Ghana.

**2020 — Vodacom + Safaricom form joint venture (M-Pesa Africa)** <sup>[2][2]</sup>: Consolidates operations across the group.

**2024 — 66.2M customers (FY24 end-March)** <sup>[3][3]</sup>: Continental scale.

**September 22, 2025 — Major platform upgrade** <sup>[4][4]</sup>: Affects 50+ million customers; modernises core processing.

**December 2025 — reported Vodacom move to raise its Safaricom stake** <sup>[5][5]</sup>: ~KES 245 billion share-purchase deal subject to ~9 regulatory conditions, potentially reshaping M-Pesa's ultimate parent structure.

**September 2025 — Kenya service revenue +9.3% YoY, M-Pesa revenue +14%** <sup>[1][1]</sup>: Continued growth.

## Ownership & operator

**Operating entity**: **M-Pesa Africa** — joint venture between **Vodacom Group + Safaricom** (since 2020).

**Ultimate parent (post-Dec 2025)**: **Vodacom Group** (controlling Safaricom via KES 245B share-purchase).

**Vodafone Group**: Historical sponsor + technology partner; Vodacom is Vodafone's African subsidiary.

**Regulator (Kenya)**: **Central Bank of Kenya (CBK)** + **Communications Authority of Kenya** for telecom side.

**Technology partner**: **Huawei** — M-Pesa core runs on Huawei Cloud, processing 21 billion transactions yearly.

## Technical integration

M-Pesa is **MNO mobile money with USSD + smartphone-app dual access** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Channels** | **USSD (\*334# Kenya) + M-Pesa app + SMS** |
| **Identifiers** | Phone number, Paybill (business shortcode), Till Number (merchant shortcode) |
| **Authentication** | M-Pesa PIN + biometrics in app |
| **Settlement** | Real-time within M-Pesa; integrations with PesaLink for inter-bank |
| **QR support** | Lipa Na M-Pesa Buy Goods (merchant QR) |
| **Channels external** | M-Pesa GlobalPay (cross-border), M-Pesa Lending, M-Pesa Insurance |

## Users & growth

**Pan-African (FY24 + 2025 data)** <sup>[2][2], [3][3], [4][4]</sup>:
- **Total customers (FY24)**: 66.2 million
- **September 22, 2025 platform upgrade affected**: 50+ million customers
- **Annual transaction count**: 21+ billion
- **Daily transactions (Kenya alone)**: 100+ million
- **Kenya service revenue growth (H1 FY26)**: +9.3% YoY
- **M-Pesa revenue growth (H1 FY26)**: +14% YoY
- **Global mobile-money transaction value (2025)**: $2+ trillion (doubled since 2021; M-Pesa is leading contributor)

## Use cases

**P2P transfers** <sup>[1][1]</sup>: Cardinal — phone-number-addressed instant.

**Lipa Na M-Pesa merchant payments** <sup>[Kenya report](https://docs.barcoder.ai/docs/payments/KE)</sup>: Paybill + Till Number + QR for businesses.

**Bill payment** <sup>[1][1]</sup>: Utilities, government services, school fees.

**M-Shwari savings + loans** <sup>[Kenya report](https://docs.barcoder.ai/docs/payments/KE)</sup>: Bank-partner microcredit + interest-bearing savings.

**Salary payments** <sup>[1][1]</sup>: Employer payroll directly to M-Pesa wallets.

**Cross-border remittances (M-Pesa GlobalPay)** <sup>[1][1]</sup>: International transfers.

**International airtime top-up + utility payments** <sup>[1][1]</sup>: Cross-MNO.

**M-Pesa Lending / KCB M-Pesa / Fuliza** <sup>[Kenya report](https://docs.barcoder.ai/docs/payments/KE)</sup>: Credit products.

## Implementations & partners

**Operating partners**: **Vodacom Group + Safaricom + Vodafone Group**.

**Cloud infrastructure**: **Huawei Cloud** (M-Pesa core).

**Bank partners (Kenya)**: KCB, NCBA (KCB M-Pesa, Fuliza), Equity Bank, Co-op Bank for various co-branded products.

**Card-network partner**: **Visa** — M-Pesa GlobalPay virtual card.

**Regulators**: CBK (Kenya), Tanzania BOT, Mozambique Bank of Mozambique, DRC Central Bank, Lesotho Central Bank, Egypt CBE, Ghana BoG.

**Inter-bank rail**: **PesaLink** (Kenya Bankers Association).

## Fun facts

- **Launched March 2007 with DFID funding** as a microfinance experiment; evolved into the world's reference mobile-money product.
- **"M-Pesa" combines "M" for mobile + "Pesa" Swahili for money**.
- **66.2M customers (FY24)**: One of the largest single-platform user bases in African digital services.
- **100M+ daily transactions in Kenya alone**: Per-capita transaction rate among the highest globally.
- **Huawei Cloud-powered core**: 21B annual transactions on Chinese-hypercloud infrastructure.
- **December 2025 Vodacom-Safaricom share deal**: Major ownership restructuring, KES 245B (~$1.9B).
- **Vodacom + Safaricom joint venture (M-Pesa Africa, 2020)**: Consolidated pan-African operations into single entity.
- **Inspired the entire MNO-mobile-money category globally**: Orange Money, MTN MoMo, Airtel Money — all post-M-Pesa.

## Comparison

| Feature | M-Pesa | MTN MoMo (group) | Orange Money (group) | Airtel Money (group) | [Wave QR](https://docs.barcoder.ai/docs/standards/wave-qr) (WAEMU disruptor) |
|---|---|---|---|---|---|
| Operator | **Vodacom + Safaricom JV** | MTN Group | Orange Group | Airtel Africa | Wave (independent fintech) |
| Country footprint | **7 (KE+TZ+MZ+CD+LS+EG+GH)** | 14 | 16+ | 14 | 8 WAEMU |
| Customers (latest) | **66.2M (FY24)** | 72.5M | 40M (group total) | 54.1M | 20M+ |
| Annual transactions | **21B** | n/a (high) | n/a | $210B+ value | n/a |
| Distinctive | Reference mobile-money product | MoMoPay merchant QR | French heritage West Africa | Mastercard partnership | 1% flat fee disruption |

## Status

**Active, foundational** <sup>[1][1], [2][2], [3][3], [4][4]</sup>:
- **Operator**: M-Pesa Africa JV (Vodacom + Safaricom) since 2020.
- **Vodacom now controls Safaricom** post-December 2025 KES 245B deal.
- **66.2M customers (FY24)** across 7 African markets.
- **September 22, 2025 platform upgrade** completed.

## Sources

[1]: https://www.vodafone.com/about-vodafone/what-we-do/m-pesa "M-Pesa — Vodafone"
[2]: https://en.wikipedia.org/wiki/M-Pesa "M-Pesa — Wikipedia"
[3]: https://www.vodafone.com/news/services/m-pesa-celebrates-reaching-50-million-customers "M-Pesa 50M customers — Vodafone"
[4]: https://techcabal.com/2025/09/19/what-to-expect-from-m-pesa-upgrade-on-22-sept/ "M-Pesa upgrade September 22 — TechCabal"
[5]: https://tech-ish.com/2025/12/08/safaricom-vodacom-share-explained/ "Safaricom-Vodacom share deal — Techish Kenya"
[6]: https://carrier.huawei.com/en/success-stories/carrier-software/solutiontopic01/safaricomkenya "M-Pesa on Huawei Cloud"
[7]: https://www.safaricom.co.ke/media-center-landing/press-releases/safaricom-and-vodacom-joint-venture-to-accelerate-m-pesa-expansion "M-Pesa Africa JV — Safaricom"
[ke-cro]: https://docs.barcoder.ai/docs/payments/KE

- [1] [M-Pesa — Vodafone][1]
- [2] [M-Pesa — Wikipedia][2]
- [3] [M-Pesa 50M customers — Vodafone][3]
- [4] [M-Pesa upgrade — TechCabal][4]
- [5] [Safaricom-Vodacom share deal — Techish Kenya][5]
- [6] [M-Pesa on Huawei Cloud][6]
- [7] [M-Pesa Africa JV — Safaricom][7]
- <sup>[Kenya report](https://docs.barcoder.ai/docs/payments/KE)</sup> In-corpus: `reports/countries/KE-kenya.md`

## Source

Biography extracted from [m-pesa.md](https://docs.barcoder.ai/source/wallets/m-pesa). See `matrix.md` for standards-support matrix if present.