Nonbank E-Money Issuers: Regulatory Approaches to Protecting Customer Funds
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چکیده
transfer service, exploded onto the scene in 2007. In just three years, it has attracted over 9.5 million customers, in a country with only 8.4 million bank accounts. Every month, more than US$320 million flows through M-PESA in person-to-person transfers, and the numbers keep rising. By nearly all accounts, M-PESA has been an admirable success and has expanded access to basic financial services to millions of underserved Kenyans.1 M-PESA has captured the world’s attention not only because of its success, but also because it is offered by an unlikely financial services provider—Safaricom, Kenya’s largest mobile network operator.
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