Vodafone Launches M-Pesa in Albania
Published on: 8th May 2015
Note -- this news article is more than a year old.
Vodafone has launched its M Pesa mobile money service in Albania, with an initial investment of more than EUR3 million.
Vodafone M-PESA is based on a system of payments and store of value system to be accessible through mobile phones, targeting mainly the unbanked and under-banked population. A fundamental feature of M-Pesa Service is that customers do not need to have a bank account or any direct relationship with a bank to gain access to money transfer and payment services.
Customer registration in all 145 shops and outlets is free of charge.
All transactions are authorized and recorded in real time using SMS, and are capped at a maximum value stipulated in the legislation in force for Money laundering Prevention and respective Know Your Customer (KYC) requirements. M-PESA account is very secure, PIN-protected, and supported with a 24/7 service, by offering speed and convenience to make remote payments and cash retrieval at any time.
In his statement, the Chief Executive Officer of Vodafone Albania - the mother company of Vodafone M-Pesa shpk - Mr. Dietlof Mare said: "From now on, thanks to M-PESA Service, people living in Albania and especially in rural areas, with or even without bank account will be able to have access to financial services only by using their mobile phones. Our strategic goal is to capitalize on Vodafone Albania large mobile telephony services penetration in the country that once again assures and strengthens the role of technology in facilitating economic and financial development of the country".