The Language of Money is Mobile Money
In Kenya we have a saying "Lugha ya pesa ni Mpesa", that is the language of money is mobile money (pesa = money in Swahili speaking Nations).
A very simple and intuitive perception by Safaricom the inventors of Mpesa, money by its very definition must be portable, and what is more portable than your constant buddy-the mobile phone.
So what about the cards? Simple watch all those cards migrate to the phone and the phone managing multiple cards offerings from multiple players, the definition of money and the language dictates the mood and mode.
Invariably mobile money is electronic money (invented by businessmen of old as a book entry), so how the customers wallet gets loaded with the mullah and where they can spend it (exchange it for goods and services) becomes the differentiating factor between different flavors of mobile money.
The flavors will vary from region to region, depending on their moors and preferences, and more so on fast mover advantage and how the flavor is presented to the mass market; what does it do, which pain does it cure and why it cures it better than the existing offerings or the next best alternative.
So the BusinessInventor in every country should be busy figuring out, the how, when and where to enjoin with the language of love, mobile money.
In the next blog we shall look at what are the ingredients of inventing and deploying the next mobile money, what alignments of the moon, sun and ocean tides are necessary to achieve the singular success of Safaricom Mpesa.
A very simple and intuitive perception by Safaricom the inventors of Mpesa, money by its very definition must be portable, and what is more portable than your constant buddy-the mobile phone.
So what about the cards? Simple watch all those cards migrate to the phone and the phone managing multiple cards offerings from multiple players, the definition of money and the language dictates the mood and mode.
Invariably mobile money is electronic money (invented by businessmen of old as a book entry), so how the customers wallet gets loaded with the mullah and where they can spend it (exchange it for goods and services) becomes the differentiating factor between different flavors of mobile money.
The flavors will vary from region to region, depending on their moors and preferences, and more so on fast mover advantage and how the flavor is presented to the mass market; what does it do, which pain does it cure and why it cures it better than the existing offerings or the next best alternative.
So the BusinessInventor in every country should be busy figuring out, the how, when and where to enjoin with the language of love, mobile money.
In the next blog we shall look at what are the ingredients of inventing and deploying the next mobile money, what alignments of the moon, sun and ocean tides are necessary to achieve the singular success of Safaricom Mpesa.
The concept of money as a book entry enabled the creation and issuance of money by banks that was not backed by physical money, the birth of intelligent money.
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