M-Pesa has created a "private money system", which deprives the government of revenue, but a Swiss start-up is determined to put an end to the scheme....
The global volume of non-cash payments is growing steadily, but the largest gain is occurring in developing markets and the BRIC countries are leading the way....
For it to stand any chance of survival, any Square-like start-up would have to embark on a huge marketing offensive, which no investor is likely to fund....