M-Pesa, the mobile phone-based African money transfer service owned by Kenya's Safaricom Plc , and Visa Inc launched a virtual payment card on Thursday in a bid to capture some of the continent's ...

The M-Pesa mobile payment system was launched in Kenya in 2007. Today, as it faces new challenges, it has 30 million users in 10 countries and three continents.

M-Pesa has since evolved from a basic SIM card-based money transfer application into a fully-fledged financial service, offering loans and savings in conjunction with local banks, plus merchant ...