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Sunday, November 27, 2022 –A new version on M-Pesa product meant for minors has been introduced in the country.
Safaricom Chief Executive Officer CEO Peter Ndegwa presided over the launch exercise of the new product in an event that was held in the city. Also present in the corporate event was Cabinet Secretary for ICT and Innovation CS Eliud Owalo.
“I have this afternoon presided over the launch of Safaricom’s M-PESA-Go platform developed for young people, aged 10 to 17, in recognition of the importance of planned inclusion of our children into the digital space,” Owalo revealed.
Mr. Ndegwa assured that the new product will help those between the age of 10 to 18 to also enjoy a few M-Pesa services through the M-Pesa Go.
M-Pesa Go has toned-down features but will be accessed through the Safaricom App M-Pesa Platform and menu since it is still a version of M-Pesa.
“M-PESA Go aims to improve digital money management and financial literacy among young Kenyans,” Safaricom states in its statement.
Safaricom is, therefore going to tap into the huge under 18 age bracket owing to the fact that Africa alone has a 40 percent population below the adult age.
It was revealed during the launch that Safaricom tested this new product with Alliance High School students and the results were amazingly positive.
Juniors, therefore, can now use M-PESA Go to complete the following functions:
- Send and receive money
- Buy data and airtime
- Use Lipa na M-PESA services
- Access a customized version of the M-PESA App
They, however, will not be able to do the following:
- Withdrawing cash
- Access to loans such as Fuliza, M-Shwari, and KCB M-PESA
- No access to betting or forex payments
Not being able to accomplish the three above makes sense since anyone has to have his or her identity card ID to remove money from M-Pesa agents
