African technology has migrated to Europe with the launch of the mobile money technology M-Pesa in Romania. M-Pesa, which means mobile money in Swahili, is credited with transforming the lives of millions of Africans who do not have access to conventional banking services.
It uses text messages to send and receive money through mobile phones. Since its debut in Kenya seven years ago, the service has registered nearly 17 million users. Vodafone, the company which developed the technology, hopes it will spark a mobile money revolution in Eastern Europe and in India. RFI spoke to Michael Joseph, the founder of M-Pesa and Vodafone's director of mobile money.
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