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This is so wrong. The title was send money with a text message. Regardless of the limitations of M-Pesa, over $25B in value was transferred with it last year, w
by kordless 11y ago
This is so wrong. The title was send money with a text message. Regardless of the limitations of M-Pesa, over $25B in value was transferred with it last year, which indicates to me that it's useful and functional, regardless of what you are saying about credit card "rails".
- bduerst 11y ago>over $25B in value was transferred with it last year ...Which is attributed to being the first-to-market payment system for Kenya, as the person before you was describing. U.S. and Kenya merchant markets are still an apples to oranges comparison.
- newjersey 11y agoSending and receiving "money" within the same network is fairly trivial from a technological point of view but once you tell customers that it is "money" that they can technically convert to and from cash, I imagine there are significant bureaucratic hoops to jump through, at least in the US. I bet even something as seemingly simple as Chase QuickPay is actually pretty complicated to implement (step one probably being: be a bank)