Safaricom Promises to Reduce Mobile Money Fraud

M-Pesa users will soon be able to see the names of the intended recipients of mobile money transfers as Safaricom confirms roll-out of the new redesign.

The telecommunications giant seeks to reduce errors that occur while sending funds.

The new service will be key in reducing fraud that has seen many customers lose money when they accidentally sent it to the wrong recipients.

"The functionality now in its final stages service is part of the enhancements that we are now able to deliver following the implementation of our new M-PESA platform which is housed in Kenya," said Mwangi, Safaricom financial services director.

Safaricom also recently launched another system that enables businesses issue instant payment notification with an optional validation step for pay bill to confirm whether to accept or decline incoming payment.

Automated payment disbursements and automated payment reversals are also part of the new system that will see M-Pesa present vast opportunities though the open interfaces.

SOURCE:DAILY NATION