In an article on www.gatesnotes.com published last weekend and titled “Mobile Banking will help the poor transform their lives” Gates heaped praises on M-Pesa saying it is an innovation that would soon be embraced by developed countries.
He said M-Pesa is “an innovation that I think would trickle up from developing countries to the rich world.”
“In developing countries with the right regulatory framework, people are storing money digitally on their phones and using their phones to make purchases, as if they are debit cards,” Gates said.
He said by 2030, two billion people who do not have bank accounts today will be storing money and making payment with their phones.
He also thanked Safaricom for giving M-Pesa a platform that has changed the banking sector in Kenya.
Mpesa was launched in Kenya in 2007 and has won accolades from all parts of the world.
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