Securing Mobile Money Services in Tanzania: A Case of Vodacom M-Pesa

Recently Tanzania has experienced an increase in the use of mobile money (M-money) services. M-money services are currently used to facilitate a wide range of services such as electronic money transfer, financial transactions and utility bills payments. This paper examines security vulnerabilities in M-Pesa services in Tanzania. Security weaknesses in authenticatio n, money transfer, withdrawal and deposit processes are identified and analyzed; and secure approaches for implementing these services are proposed.