FXC Intelligence, a leading specialist source of global payments data, has included MPesa in its annual Top 100 Cross-Border Payments Companies list.
FXC Intelligence is a financial data firm that follows over 15,000 companies in the cross-border payments industry. It specializes in international payments, cards, and ecommerce, with a focus on price data. The 100 firms that have championed innovation in global payments and are best positioned to lead the next era of payments excellence are recognized and celebrated in the 2022 Cross-Border Payments 100 list.
“Founded by Vodafone and Safaricom (a leading telecoms provider in Kenya) M-PESA is a mobile phone-based money transfer service. It enables cross-border payments for more than 51 million customers across seven countries in Africa with secure international transfers via their mobile phones. More than $314bn in transactions is sent annually with Kenya and Tanzania its two biggest markets.” wrote FXC Intelligence.
In the mobile category, MPesa was named alongside Airtel, Orange and IDT.
Recently, MPesa’s Super App took first place in the category of “Best Mobile Innovation for Connected Living,” beating out nominations from all over the world at Mobile World Congress in Barcelona.
To make the FXC Intelligence list; companies have to meet the following criteria;
To make our list, companies have to fulfill the following criteria:
Be of a certain scale. This is not a startup or VC list (there are lots of those). This is also not a challengers list (we have one of those too).
Companies don’t have to have raised outside funds, but they must have an established customer base.
Cross-border payments must either be the primary activity (many payment companies) or a substantial revenue line (certain banks, payment processors or card companies). With subsidiaries, we include them in the parent company, rather than listing them separately.
The list features companies across money transfers, payments processing, ecommerce, B2B and beyond. It separates the top 100 players into seven groups: VC/growth equity-backed, independently owned, banks, private equity-backed, mobile, crypto and public companies.
Other notable companies in the list include; Flutterwave, Chipper Cash, Stripe among others. The full list is available here.
