Thursday, March 27, 2014 enables digital currency transactions via phone in Kenya

Cryptocurrencies are taking off in Africa and are used instead of traditional banking services, which might not exist in certain areas.  Here is an insightful interview by Max Keiser with CEO Elizabeth Rosiella on how their service allows Kenyans to transfer digital money via their phones. Bitpesa will save Africans money in remittance payments (money sent back home from overseas). Banks charge upwards of 19.8% and Western Union and Moneygram charge as much as 9.2%. The fee is only 3% and is planning to use bitcoin as part of the backbone and transaction mechanism of its service.
Scroll to 13:30 minutes thereabouts for the interview.