Telecommunications giant Safaricom has announced that its mobile money service M-PESA has been re-certified by the GSM Association (GSMA).
Safaricom in a statement on Wednesday August 14 said that the certification is a recognition which underscores the company’s commitment to providing secure, transparent, and reliable financial services.
“Safaricom’s M-PESA has been re-certified by the GSM Association, a recognition that underscores the company’s commitment to providing secure, transparent, and reliable financial services,” read part of the statement.
The GSMA is a global organization unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change.
On the other hand, the GSMA Mobile Money Certification defines and promotes excellence in the provision of mobile financial services to telecommunications companies’ customers across the globe.
Safaricom reveled that M-PESA was one of the pioneering mobile money operators to receive this accreditation in 2018 and has consistently maintained its certification.
GSMA Mobile Money Certification
The GSMA Mobile Money Certification is a global standard aimed at ensuring the safety and robustness of mobile money services.
It ensures that certified providers adhere to principles that protect customer funds, safeguard personal data, ensure system security, maintain transparency on fees, and effectively manage customer service issues, including complaints.
According to Safaricom, the certification underscores provision of worry-free M-PESA and emphasizes the importance of combating financial crimes such as money laundering and fraud.
The company further said that the re-certification not only boosts consumer trust but also facilitates stronger commercial partnerships and sets a benchmark for the mobile money industry.
It highlighted that mobile money services are significantly contributing to financial inclusion and improving lives worldwide with over 690 million registered accounts globally.
Also Read: M-Pesa to Be Affected as Safaricom Announces Scheduled Maintenance
Commenting on the organization’s latest development, Safaricom CEO Peter Ndegwa expressed his pride in M-PESA for its contribution to driving the financial inclusion agenda in Kenya and across the region and providing millions of previously unbanked people access to financial services.
“This certification is evidence that we have taken a step further to ensure that customers’ funds are in safe hands, that their rights are being observed through our business practices, and that a high level of customer service can be expected,” he said.
“Certification is a sign that our business practices are among the best in the industry, that we are a providing a secure, transparent and reliable mobile money service. That we are a trustworthy and responsible mobile financial service provider, and therefore an attractive candidate for collaboration with innovators and the business community.”
Also Read: Safaricom Announces Board Changes After 2 Exits
Safaricom Hails M-PESA
Safaricom further highlighted that M-PESA continues to play a crucial role in the development of the financial sector in Kenya and has gained popularity globally in the past decade.
According to the telecommunications giant, there were 31.5 million active M-PESA users, processing over KES 40.2 trillion in transactions annually, as at the end of March 2024.
The certification comes at a time when the tech-giant has been conducting planned scheduled system maintenance which it has attributed to its innovation and enhancement of services to connect their customers with endless possibilities.
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