Safaricom's M-Pesa has been re-certified by the Global System for Mobile Communications Association (GSMA), cementing its position as a global leader in mobile money transfer and payments.
The GSMA certification is a global initiative that provides safer, more transparent, and stronger financial services to mobile money users.
The telecommunication company said the re-certification reflects its commitment to safe, transparent, and reliable financial services to millions of customers worldwide, as well as building consumer trust, facilitating stronger commercial partnerships.
“This certification is evidence that we have taken a step further to ensure that customers’ funds are in safe hands, that their rights are being observed through our business practices, and that a high level of customer service can be expected,” Safaricom chief executive officer Peter Ndegwa said.
“Certification is a sign that our business practices are among the best in the industry and that we are providing a secure, transparent, and reliable mobile money service.
“We are a trustworthy and responsible mobile financial service provider, and therefore an attractive candidate for collaboration with innovators and the business community,” Safaricom chief executive officer Peter Ndegwa said.
The Global Mobile Money Certification is based on an independent assessment of a provider's ability to deliver secure and reliable services, protect consumer rights, and combat money laundering and terrorist financing.
M-Pesa first received the certification in 2018, becoming one of the first mobile money services to achieve this level of certification after meeting the criteria in eight areas of assessment, including safeguarding customer funds, service security, protecting customer data and privacy, and mitigating the risks of money laundering, terrorist financing, and fraud.
Other areas assessed as part of the certification process include agent and staff management, reliable service delivery, customer communication, customer service, and customer complaint management.
With over 690 million registered accounts worldwide, mobile money services are making a significant contribution to financial inclusion and improving lives around the world.
Currently, M-Pesa has approximately 31.5 million active users processing over Sh40.2 trillion in transactions annually by the end of March 2024.
