Review of M-Shwari lock savings account
Safaricom, being the biggest telecommunication company in East and central Africa has changed the way business is conducted in these economies. The company came up with a revolutionary mobile money transfer system and named it M-PESA. This enabled Safaricom’s customers to send and receive money to any part of the country through the use of mobile phones. All one needed to have is his or her national identification card of an original passport for registration. Other than sending and/or receiving cash, M-PESA allows customers to pay utility bills, buy goods and services and transfer money from your bank account to your mobile phone and vice versa.
With over twenty-four million registered users who find it more convenient to use their mobile phones than going to the banks, M-PESA has now established itself a major player in the banking sector. Banks had to adjust to stay afloat in the market. Continue reading M-Shwari lock savings account review