Max45
New Lister
1.What happens to M-Pesa Money when the owner dies?
We all know that in the case of banks and other places where money is a key concern, next of kin category is clearly specified and details are recorded. But to M-Pesa during registration, no such details are required or even a necessary.
So in the case of death and you are a Next of Kin to the deceased, you can acquired his/her money in the M-Pesa platform by providing documents of the same.
The documents are such as National ID of your own and that of the deceased. These will play a huge role in you receiving the money of the deceased.
2.Where are the M-pesa Funds Held?
People may think Safaricom Holds the huge amount of money Transacted everyday through the platform but that is not true. Every single day 80 Million transactions happen through the M-Pesa platform so to enable a flow of cash, Safaricom works with several financial institutions such as Banks.
These banks provide the millions are are transacted daily.
3.Does M-Pesa use the money Deposited by Customers?
There is no single day you,ll ever delay during a transaction because maybe there is no money at the moment. This clearly indicates that money deposited in M-Pesa is not re-used by the platform. They only have a backup in Commercial Banks and the money is referred to M1.
4.Does M-Pesa Monitor transactions?
The answer is Yes. Any transaction happening anywhere at any time is monitored by both physical individuals but most importantly by the platform itself. It records all transactions as statements in that whenever needed they are ready. This is to minimize cases of fraud and cheaters in the platform.
5.Was M-Pesa originally made as a money transfer tool?
We all know that in the case of banks and other places where money is a key concern, next of kin category is clearly specified and details are recorded. But to M-Pesa during registration, no such details are required or even a necessary.
So in the case of death and you are a Next of Kin to the deceased, you can acquired his/her money in the M-Pesa platform by providing documents of the same.
The documents are such as National ID of your own and that of the deceased. These will play a huge role in you receiving the money of the deceased.
2.Where are the M-pesa Funds Held?
People may think Safaricom Holds the huge amount of money Transacted everyday through the platform but that is not true. Every single day 80 Million transactions happen through the M-Pesa platform so to enable a flow of cash, Safaricom works with several financial institutions such as Banks.
These banks provide the millions are are transacted daily.
3.Does M-Pesa use the money Deposited by Customers?
There is no single day you,ll ever delay during a transaction because maybe there is no money at the moment. This clearly indicates that money deposited in M-Pesa is not re-used by the platform. They only have a backup in Commercial Banks and the money is referred to M1.
4.Does M-Pesa Monitor transactions?
The answer is Yes. Any transaction happening anywhere at any time is monitored by both physical individuals but most importantly by the platform itself. It records all transactions as statements in that whenever needed they are ready. This is to minimize cases of fraud and cheaters in the platform.
5.Was M-Pesa originally made as a money transfer tool?
