The partnership makes Barclays the eighth bank to partner Safaricom as an agent or super agent. Account holders can deposit and withdraw money using their mobile phones while M-Pesa agents who bank with Barclays can also use the system to buy their electronic float for their daily operations.Michael Joseph, CEO, Safaricom, issued a stark warning to banks that fail to adopt mobile money transfer services like M-Pesa: "Unless banks change and adopt this technology, there will not be anything like retail banking in 10 years."

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