M-PESA, the pioneer of mobile payment systems, was a revolutionary innovation that made it possible to transfer money via SMS without an internet connection. Launched in Kenya in 2007, this system enabled millions of people to make financial transactions, especially in areas where banking infrastructure was insufficient.

How It Worked❓

📲 SMS Via Transaction: M-PESA users could send money, pay bills and perform other transactions by accessing the mobile wallet on their phones with SMS commands. For this, simple SMS messages were used, not the internet.

📲 Mobile Operator Verification: Money transfer was carried out through a platform managed by the user's mobile operator. Users forward the person they wanted to send money to using a specific short code and the amount via SMS, after which the transaction was carried out.

📲 SIM Card Software: Transactions were made through software, which was usually placed on mobile SIM cards. This software would manage the money in the user's digital wallet and initiate transactions.

How Security Was Ensured❓

There were various security measures to make money transfer by SMS secure:

🔢Protection with PIN Code: Users would access their accounts using a PIN code when starting their transactions with SMS.

🔢Two-Factor Authentication: During the transaction, the identity of the user is verified and the security of the transaction is ensured.

🌍 Who Used It?

M-PESA has provided access to banking services to millions of people, especially in Kenya, Tanzania and other developing countries of Africa. People without a bank account were able to securely send and receive money through their mobile devices. This technology was quickly adopted as it offered a low-cost and practical financial solution.

Money transfer without the internet with SMS has become a powerful example of increasing financial access in developing regions with the creative and innovative use of technology. 🌍🚀