Mobile Money: The Economics of M-PESA
---- Acknowledgements ----
We gratefully acknowledge the support and collaboration of Pauline Vaughan and Susie Lonie, and other staff of Safaricom and Vodafone. The first round of the survey whose results are reported here was commissioned by Financial Sector Deepening, a Nairobi-based multi-donor financial sector development programme, on behalf of the Central Bank of Kenya. Later rounds of the survey were funded by the Consortium on Financial Services and Poverty at the University of Chicago. Thanks are extended to Indrani Saran and Suleiman Asman for excellent research assistance, and to Stephen Mwaura of the CBK, David Ferrand and Caroline Pulver of FSD and to seminar participants at MIT Sloan, Safaricom, the Institute for Money, Technology and Financial Inclusion at UC Irvine and Columbia Business School. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.