HOW MONEY TRANSFER IS DRIVING KENYA ECONOMY

HOW MONEY TRANSFER IS DRIVING KENYA ECONOMY
Usage of mobile money transfer is on increase in Kenya day bay day. Some of the operation than by mobile money service include the following
 Paying of electricity and water bills, this days you do not see people lining up in banks just pay the bills.
 Shopping online many companies today in Kenya give their customers to pay for goods or service by paying through mobile money cash transfer. This process operate just like visa.
 Booking of travel ticket today in Kenya major airline services operating in the country allows it customers to pay for their tickets by Mpesa.
Cheap mobile phone being launched in Nairobi my major mobile manufacturers, especially those from china is the key to the success of the project I the country. the four major mobile providers companies in Kenya are;
a) Safaricom through Mpesa service
b) Airtel through Airtel money
c) Orange by Orange money
d) YU by Yucash
Just four months after safaricom launched M-shauri in collaboration with Commercial Bank of Africa a program that allow its customers to save cash or borrow cash. Its recorded massive response from Kenyans. Today it has more than 4 million customer already.
Statistics from Central Bank of Kenya shows that there are 15million bank deposits accounts compared with 24million money transfer accounts.