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Stock impact report

Kenya's Safaricom takes M-Pesa global with Western Union [Reuters (UK)]

Western Union Company (The) (WU) 
Last western union company (the) earnings: 2/11 04:05 pm Check Earnings Report
Company Research Source: Reuters
Kenya's Safaricom takes M-Pesa global with Western Union | Reuters 3 Min Read NAIROBI, Nov 6 (Reuters) - Kenya’s biggest telecoms operator Safaricom on Tuesday unveiled a new service on its M-Pesa mobile financial services platform that will allow users to send money around the world in a partnership with Western Union. Started as a simple money transfer service 11 years ago to fill a gap in Kenya’s formal banking network, M-Pesa has evolved into a fully-fledged financial service, offering loans and savings in conjunction with local banks, as well as merchant payments services. It has also powered Safaricom’s earnings growth in recent years, with revenue from the service growing at 18 percent in the half year to the end of September to 35.52 billion shillings ($349.43 million), nearly a third of the total. The new service will allow M-Pesa’s 21 million active users to send and receive money across the world using their mobile phones which will be connected to Western Union’s half a mi Show less Read more
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