After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started
withdrawing to pay cash to reduce their transaction costs.
Now, I&M Bank has
permanently dropped levy fees for transferring cash between its platform and mobile wallets, bucking the trend in the sector that has been reinstating the charges since January amid customer outcry. The move will save I&M customers between Sh10 and Sh65, the range the lender was charging after the Central Bank of Kenya (CBK) announced a return of charges on transactions between banks and mobile money wallets.
Is the market adopting to consumer behaviour and correcting itself? What will the future look like on the cost of digital cash transfer charges?