M-PESA Gets a Major Upgrade: Fintech 2.0 Arrives
Safaricom has just announced a substantial upgrade to its M-PESA platform, marking the most significant advancement since 2015. Dubbed Fintech 2.0, this next-generation core system promises increased resilience, expanded capacity, and paves the way for AI-driven innovation within the popular mobile money service. This is a crucial development for digital finance in Africa, where M-PESA plays a pivotal role in financial inclusion.
Increased Processing Power and Resilience
The Fintech 2.0 upgrade delivers a significant boost in processing capabilities. The platform can now handle 6,000 transactions per second, a jump from its previous capacity of 4,500. Crucially, the system is designed with scalability in mind, with the potential to reach 12,000 transactions per second as demand increases. Furthermore, the introduction of active-active architecture across multiple hosting sites ensures higher resilience and significantly minimizes service disruptions, a critical improvement for a platform relied upon by millions.
This major upgrade signifies Safaricom’s dedication to innovation and solidifies its commitment to providing a reliable and robust mobile money platform. By transitioning to Fintech 2.0, M-PESA is positioning itself to not only meet current demands but also to capitalize on future opportunities within the rapidly evolving fintech landscape in Africa. The investment underscores the importance of M-PESA’s continued role in the region’s digital economy.
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