Savings –A new version on M-Pesa product has been introduced in the country to fit juniors.
Safaricom Chief Executive Officer CEO Peter Ndegwa presided over the launch of the new product in an event that was held in Nairobi.
Also present in the corporate event was Cabinet Secretary for ICT and Innovation CS Eliud Owalo.
Mr. Ndegwa assured that the new product will help those below the age of 18 but above 10 years to enjoy a few M-Pesa services through M-Pesa Go feature.
M-Pesa Go has toned-down features but will be accessed through the Safaricom App menu since it is still a version of M-Pesa.
“M-PESA Go aims to improve digital money management and financial literacy among young Kenyans,” Safaricom states in its statement.
Safaricom is, therefore going to tap into the huge under 18 age bracket owing to the fact that Africa alone has a 40 percent population below the adult age.
It was revealed during the launch that Safaricom tested this new product with Alliance High School students and the results were encouraging.
Juniors therefore can now use M-PESA Go to complete the following functions:
- Send and receive money
- Buy data and airtime
- Use Lipa na M-PESA services
- Access a customized version of the M-PESA App
They, however, will not be able to do the following:
- Withdrawing cash
- Access to loans such as Fuliza, M-Shwari, and KCB M-PESA
- No access to betting or forex payments
Not being able to accomplish the three above makes sense since anyone has to have his or her identity card ID to remove money from any M-Pesa agent.
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