Kenya's mobile money innovation boom

10 Aug 2010

Kenya is quickly gaining a competitive advantage in the mobile payments space. Led by mobile operator giant Safaricom with their Mpesa product, the market locally sees huge value in mobile money transactions. Add to that a regulatory system that is relaxed enough for innovation to be encouraged, and you have a great space for interesting things to happen.

Pay.Zunguka

The team at Symbiotic always have more than one iron in the fire. I was surprised by their most recent release of a new product called Pay.Zunguka recently. Simply put, it's a payment gateway and aggregator, allowing merchants, developers and content providers a way to monetise their work with the public.

There are two sources of inspiration in Pay.Zunguka, which is the ability for people to utilise international online payment methods like PayPal and Google Checkout, but more importantly that users in Kenya can do it all without a credit card, only using their phones. That's a big deal, and it's a nod towards recognising that credit cards aren't necessary, we can bypass that mess.

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Source: Memeburn

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