A mobile banking service is transforming how the poor transfer money -- here's how it works

Chris Weller/Business Insider In 11 countries around the world, some 30 million people use a mobile money service that is transforming how people handle their finances. It's called M-Pesa,and it has lifted hundreds of thousands of people out of poverty in Kenya. "Pesa" is Swahili for money. The Kenyan service provider Safaricom launched M-Pesa in the East African nation 10 years ago, and since then it's enabled countless people to move small amounts of their own money and send it to others. On a...