The certification follows a three-year consultative process among operators in Africa, Asia and Latin America.
It sought to understand business challenges that resulted in formulation of best practices for the identified markets.
M-Pesa payments platform has been globally certified as safe for commercial transactions, positioning the firm for more partnerships.
The GSM association (GSMA) — the global mobile device-makers and operators’ organisation — said an independent assessment of Safaricom’s #ticker:SCOM ability to deliver secure and reliable services, to protect the rights of consumers and combat money laundering and terrorism financing had proved resilient.
GSMA chief regulatory officer John Giusti said the GSMA Mobile Money Certification aims to give customers confidence that a provider had taken steps to ensure funds were in safe hands.
“The certification is designed to enhance consumer trust and accelerate commercial partnerships by setting a high bar to which all providers can aspire,” he said.
The statement issued at the Mobile 360-West Africa event that also saw Côte d’Ivoire’s Orange, Telenor Microfinance Bank Ltd. (Easypaisa Pakistan), Tigo Tanzania (Millicom Group) and Vodacom Tanzania certified.
M-Pesa is the world’s first mobile phone-based mobile platform. It offers money transfer services via its 130,000 agents with users able to pay for goods and services at 50,000 outlets. It also enjoys partnership agreements with State agencies, banks, saccos and foreign money transfer services where cash is sent directly to individual phone accounts across Kenya.
“Mobile money is directly advancing 13 of the 17 Sustainable Development Goals by facilitating access to essential services such as health and education, providing employment opportunities and reducing poverty,” he said.
The certification follows a three-year consultative process among operators in Africa, Asia and Latin America that sought to understand business challenges that resulted in formulation of best practices for the identified markets.
Certification is open to all mobile money providers, whether they are a mobile operator a bank or other type of payment service provider.
