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PESA history
PESA company history timeline
In 1973, with his life savings, he started Communications Technology, Inc., with partner and friend, Frank Zimmerman.
After successfully building the company, they sold it to 3M in 1977.
In 1990, a Spanish company called PESA Electronica, which had
In the Philippines, Smart was the first to transfer person-to-person remittances beginning in 2000.
In 2005 the company was sold to a private equity group out of Canada and went through re-branding and a name change to QuStream before returning to the original PESA name and brand which remains today.
In the same year, a part-survey conducted by the Central Bank of Kenya found that the proportion of Kenya's population with access to formal financial services rose to 83 per cent from 14 per cent in 2006 when the survey was first carried out.
By December 2007, 5.5 million Filipinos had used their mobile phones for personal finance, making the country a leader in mobile transactions.
PESA complies with DoD Unified Capabilities Requirements (UCR) 2008 Change 3 for Video Distribution Systems; first manufacturer to submit a System Under Test
Tameer Bank and Telenor Pakistan launched EasyPaisa in 2009, and with 7.4 million users it is now the third largest mobile money service in the world.
According to a Kenyan government report published from 2012, just five years after launch, there were 19.5 million mobile money users in Kenya (representing 83% of Kenya’s adult population), transferring ~US $8 billion per year (~24% of Kenyan GDP).
According to the Global Mobile Systems Association (GMSA), approximately 255 mobile money services were operating across 89 countries in 2014.
In the first quarter of 2015, there were over 900 million mobile subscribers in Africa, and 3.7 billion in Asia.
An MIT study published in 2016 revealed that M-Pesa is responsible for lifting two per cent of households in Kenya out of poverty.
Professor N'dungu was at the Blavatnik School during Trinity term 2016 as the first recipient of the Yaw Adjepong-Boateng Memorial Fellowship, which focuses on the role of Central Banks in Africa and on the continent’s economic development.
The system processed around 6 billion transactions in 2016 at a peak rate of 529 per second.
The majority of the East African country’s population is subscribed to a mobile payment service, and the most popular choice is M-Pesa, which celebrates its 10th anniversary in March 2017.
By: Jeff Quigley According to the World Bank’s latest report on global remittances, US$46 billion was sent to Sub-Saharan Africa in 2018.
By: Jeff Quigley Remittances to the Philippines reached a staggering US$33.5 billion in 2019, maintaining the country’s spot as the fourth largest remittance recipient globally and…
Despite the ongoing pandemic, the Philippines’ central bank is targeting 3% remittance inflow growth in 2020.
As part of the 15-year celebrations, Safaricom has announced plans to reward more than 5000 customers (15 customers and 15 businesses every hour for 15 days) from March 7th 2022 to March 22nd 2022, for sending money or making payments through the M-PESA Super App and M-PESA Business Super App.
markets African startups raised over $3 billion in funding in H1 2022
© Finextra Research 2022
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Zippia gives an in-depth look into the details of PESA, including salaries, political affiliations, employee data, and more, in order to inform job seekers about PESA. The employee data is based on information from people who have self-reported their past or current employments at PESA. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by PESA. The data presented on this page does not represent the view of PESA and its employees or that of Zippia.
PESA may also be known as or be related to PESA, PESA Switching Systems, Inc., Pesa and Pesa Switching Systems, Inc.