The M-Pesa app is one of the growing online money transaction platform in Kenya. Over the last few months they platform have been experiencing hefty money transactions on daily basis. This has got the Central Bank Of Kenya some attention and now the CBK want to regulate the application. The M-Pesa app was launched last year and has overseen good growth in the number of users and transactions.
The application currently hosts services such as banking , insurance sectors , booking services and virtual visa card for Global payment. The M- Pesa visa virtual card will be gradually available across other M-Pesa markets through the M-Pesa super app under the patnership between M-Pesa and Visa. Which means the app can handle hefty transactions in a day in what the CBK says are becoming a major disruptor in the digital financial services ecosystem and must be regulated.