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View Diary: Money, Control and Power: M-Pesa, Bitcoin and Kipochi (29 comments)

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    You can transfer phone credit also, which is stored as money value but not withdrawable like the mpesa account.  You buy a phone voucher for say 5000 shillings and then spend it as you use it, 60 shillings for a text message and 60 shillings per minute for an incountry call.  Because we do not have mpesa like banking here, the bitcoin service is allowing someone from here to send money to a MPesa account in East Africa.  This is a very valuable service for family members working in the US that want to send money home.  The recipient will pay a commission to withdraw the money so you need to send a little more than what you want them to receive.  It is an interesting system and I just wanted to fill in details for the MPesa side of it.

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