At the end of Mapping and Effectively Structuring Operator-Bank Relationships to Offer Mobile Money for the Unbanked, [link] we include a case study that traces the history of Safaricoms engagement with banks in Kenya as M-PESA evolved. In the early days, Safaricom placed the cash that agents and customers had converted into electronic value in an account held with the Commercial Bank of Africa; later, to reduce risk, accounts were opened at Standard Chartered and CFC Stanbic for the same function as well.
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