A new payment service soon to be launched by Facebook is threatening to shake the very foundations of M-PESA in terms of payments options that it will offer Facebook users. A recent research by Standard Investment Bank revealed that the new payment service by Facebook might eat up on MPESA profits and future growth of the giant mobile money company. But Safaricom's Corporate Affairs Director Nzioka Waita in an interview strongly refuted this. Nzioka says that since the service will only be enabled to users in the US at first, the impact will not be felt by Kenyans who are the biggest consumers of MPESA services. MPESA has a current subscriber base of 20 million users while Facebook only reaches 4 million Kenyans.
Facebook announced that the new payment feature will be added to the messenger to allow people send money direct to each other. The service will be available on android and iOS messanger apps.
M-PESA currently has network of over 40,000 agents across Kenyan who have helped grow the mobile money service in leaps and bounds. M-PESA was launched in Kenya in 2007 first offering only mobile money transfer services but has in recent years evolved into a full payments services offering C2B services and par
tnering with Major Banks to offer B2C services,.
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