Analysis of Financial Institutions Riding the M-PESA Rails

This study explores the advantages and disadvantages, including price considerations, for M-PESA customers, MPESA agents, and financial institutions. It also assesses whether M-PESA contributes to financial inclusion of participating financial institutions and customers. MicroSave designed and conducted this study at the request of the Bill & Melinda Gates Foundation to understand M-PESA’s strengths and problems and derive lessons for other mobile money services.