Currently, the most developed mobile payment system in the developing world, M-Pesa, allows users to deposit, withdraw, and transfer money easily with a mobile device.
Thatâ€™s not all, one can redeem deposits for regular money, pay bills, purchase airtime and transfer money between the service and a bank account.
This service has spread quickly and has become the most successful mobile phone-based financial service in the developing world.
At the national level, it is estimated that around 25 per cent of Kenyaâ€™s GNP flows through it. At the international level, more than half of all the worldâ€™s mobile-money transactions are by Safaricom.
While many people use M-Pesa for transacting their business, until now, users have to save receipts and haul them out at the end of the month to an accountant to sort them out.
But if most of the transactions are through M-Pesa, then this end-of-month headache could be managed almost effortlessly thanks to a new application known as Zebumob.
This nifty software was developed for Android phones to help users categorise, monitor and manage their transactions.
How does it work? Interested users download the software on Google Market Play store under the name of Zebumob onto their Android phones.
Users access their information by logging on atÂ www.zebumob.comusing their password and either print out their statement or export it to an Excel spreadsheet for further formatting and analysis.
Only the user can view or delete their records of M-Pesa transactions. Records of M-Pesa transactions resemble bank-generated financial statements.
With these statements, one can track their sources of income and spending patterns of funds received via M-Pesa.
â€œUsers can categorise their expenditure items and monitor them over a period of time,â€ says Muthuu Kagio, the companyâ€™s head.
For example, one can track how much one has spent on entertainment, fees, food or transport for a given period, say a month.
The collected information can help users create a budget based on past spending patterns.
The company makes money through advertisements and helping small businesses and institutions that use M-Pesa further classify and analyse their transactions.
The application has a customised spreadsheet analysis programme for small businesses that use M-Pesa for their daily transactions.