The fight is on. I&M Bank removes Bank to Mpesa charges
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs. Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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? Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva
I saw this and it is indeed a welcome move. Hope other banks will follow suit. On Wed, 15 Feb 2023 at 17:03, Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
-- Elizabeth Kiarie Tel:0722 737330
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention. *Ali Hussein* Fintech | Digital Transformation Tel: +254 713 601113 Twitter: @AliHKassim LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim> <http://ke.linkedin.com/in/alihkassim> Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with. On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
From a technical perspective, most of this banks share infrastructure and with telcos at Data Centres, the cost of transit is negligible. Best Regards On Thu, Feb 16, 2023 at 8:34 AM Ali Hussein via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention.
*Ali Hussein*
Fintech | Digital Transformation
Tel: +254 713 601113
Twitter: @AliHKassim
LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim> <http://ke.linkedin.com/in/alihkassim>
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
_______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
-- Barrack O. Otieno +254721325277 +254733206359 Skype: barrack.otieno PGP ID: 0x2611D86A
People may be interested to see how payments is being handled by the Central Bank of Brazil. Instant, fully interoperable, almost zero-cost. https://blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-publi... On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention.
*Ali Hussein*
Fintech | Digital Transformation
Tel: +254 713 601113
Twitter: @AliHKassim
LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim> <http://ke.linkedin.com/in/alihkassim>
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
_______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
Pix also offers an interesting case study because of how such a convenient system led to increased fraud and increased crime requiring a variety of technical measures to mitigate. I am not saying it is a bad thing at all, but I am saying it is important to understand the negative consequences of mobile money that can arise (thankfully not so much in Kenya, yet)… From: Rafe Mazer via KICTANet [mailto:kictanet@lists.kictanet.or.ke] Sent: Thursday, February 16, 2023 3:06 PM To: Adam Lane <adam.lane@huawei.com> Cc: Mwendwa Kivuva <Kivuva@transworldafrica.com>; Rafe Mazer <rafe.mazer@gmail.com> Subject: [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges People may be interested to see how payments is being handled by the Central Bank of Brazil. Instant, fully interoperable, almost zero-cost. https://blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-publi... On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet <kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke>> wrote: Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention. Ali Hussein Fintech | Digital Transformation Tel: +254 713 601113 Twitter: @AliHKassim LinkedIn: Ali's Profile<http://ke.linkedin.com/in/alihkassim> Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with. On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet <kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke>> wrote: After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash<https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs. Now, I&M Bank has permanently dropped levy fees<https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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? Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke> To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke<mailto:kictanet-leave@lists.kictanet.or.ke> _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke> To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke<mailto:kictanet-leave@lists.kictanet.or.ke>
Interesting points. can you share some sources for that? On Thu, Feb 16, 2023 at 7:16 AM Adam Lane <adam.lane@huawei.com> wrote:
Pix also offers an interesting case study because of how such a convenient system led to increased fraud and increased crime requiring a variety of technical measures to mitigate. I am not saying it is a bad thing at all, but I am saying it is important to understand the negative consequences of mobile money that can arise (thankfully not so much in Kenya, yet)…
*From:* Rafe Mazer via KICTANet [mailto:kictanet@lists.kictanet.or.ke] *Sent:* Thursday, February 16, 2023 3:06 PM *To:* Adam Lane <adam.lane@huawei.com> *Cc:* Mwendwa Kivuva <Kivuva@transworldafrica.com>; Rafe Mazer < rafe.mazer@gmail.com> *Subject:* [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges
People may be interested to see how payments is being handled by the Central Bank of Brazil. Instant, fully interoperable, almost zero-cost. https://blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-publi...
On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention.
*Ali Hussein*
Fintech | Digital Transformation
Tel: +254 713 601113
Twitter: @AliHKassim
LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim>
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards,
______________________
Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva
_______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
_______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
There’s a lot of sources online like https://www.about-fraud.com/2022/07/19/pix-scam-in-brazil/ and https://www.aciworldwide.com/blog/a-year-of-pix-in-brazil-what-does-the-futu... On another but related note, it seems that police are also using pix to track down those who funded the protests (“insurrection” and therefore have seemingly broken the law) after the recent election in Brazil. This article is really interesting: https://www.reuters.com/world/americas/brazils-crowdfunded-insurrection-leav... From: Rafe Mazer [mailto:rafe.mazer@gmail.com] Sent: Thursday, February 16, 2023 4:00 PM To: Adam Lane <adam.lane@huawei.com> Cc: Kenya's premier ICT Policy engagement platform <kictanet@lists.kictanet.or.ke>; Mwendwa Kivuva <Kivuva@transworldafrica.com> Subject: Re: [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges Interesting points. can you share some sources for that? On Thu, Feb 16, 2023 at 7:16 AM Adam Lane <adam.lane@huawei.com<mailto:adam.lane@huawei.com>> wrote: Pix also offers an interesting case study because of how such a convenient system led to increased fraud and increased crime requiring a variety of technical measures to mitigate. I am not saying it is a bad thing at all, but I am saying it is important to understand the negative consequences of mobile money that can arise (thankfully not so much in Kenya, yet)… From: Rafe Mazer via KICTANet [mailto:kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke>] Sent: Thursday, February 16, 2023 3:06 PM To: Adam Lane <adam.lane@huawei.com<mailto:adam.lane@huawei.com>> Cc: Mwendwa Kivuva <Kivuva@transworldafrica.com<mailto:Kivuva@transworldafrica.com>>; Rafe Mazer <rafe.mazer@gmail.com<mailto:rafe.mazer@gmail.com>> Subject: [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges People may be interested to see how payments is being handled by the Central Bank of Brazil. Instant, fully interoperable, almost zero-cost. https://blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-publi... On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet <kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke>> wrote: Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention. Ali Hussein Fintech | Digital Transformation Tel: +254 713 601113 Twitter: @AliHKassim LinkedIn: Ali's Profile<http://ke.linkedin.com/in/alihkassim> Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with. On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet <kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke>> wrote: After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash<https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs. Now, I&M Bank has permanently dropped levy fees<https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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? Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke> To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke<mailto:kictanet-leave@lists.kictanet.or.ke> _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke<mailto:kictanet@lists.kictanet.or.ke> To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke<mailto:kictanet-leave@lists.kictanet.or.ke>
Thanks for sharing these. I remember the lightning kidnappings and even fake kidnappings cons when I lived in Guatemala in the early '00s. I suppose to play devil's advocate, you could also say (and surveys I led show <https://poverty-action.org/consumer-protection-digital-finance-surveys>), a high level of phishing targeting via mobile money in Kenya and other countries. I guess my view for PIX or mobile money in Kenya the risks are worth the reward--if properly supervised, and something like PIX would be really useful in markets like Kenya where the cost of electronic payments remains so much higher than peer markets like Brazil or India. On Thu, Feb 16, 2023 at 8:28 AM Adam Lane <adam.lane@huawei.com> wrote:
There’s a lot of sources online like https://www.about-fraud.com/2022/07/19/pix-scam-in-brazil/ and https://www.aciworldwide.com/blog/a-year-of-pix-in-brazil-what-does-the-futu...
On another but related note, it seems that police are also using pix to track down those who funded the protests (“insurrection” and therefore have seemingly broken the law) after the recent election in Brazil. This article is really interesting: https://www.reuters.com/world/americas/brazils-crowdfunded-insurrection-leav...
*From:* Rafe Mazer [mailto:rafe.mazer@gmail.com] *Sent:* Thursday, February 16, 2023 4:00 PM *To:* Adam Lane <adam.lane@huawei.com> *Cc:* Kenya's premier ICT Policy engagement platform < kictanet@lists.kictanet.or.ke>; Mwendwa Kivuva < Kivuva@transworldafrica.com> *Subject:* Re: [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges
Interesting points. can you share some sources for that?
On Thu, Feb 16, 2023 at 7:16 AM Adam Lane <adam.lane@huawei.com> wrote:
Pix also offers an interesting case study because of how such a convenient system led to increased fraud and increased crime requiring a variety of technical measures to mitigate. I am not saying it is a bad thing at all, but I am saying it is important to understand the negative consequences of mobile money that can arise (thankfully not so much in Kenya, yet)…
*From:* Rafe Mazer via KICTANet [mailto:kictanet@lists.kictanet.or.ke] *Sent:* Thursday, February 16, 2023 3:06 PM *To:* Adam Lane <adam.lane@huawei.com> *Cc:* Mwendwa Kivuva <Kivuva@transworldafrica.com>; Rafe Mazer < rafe.mazer@gmail.com> *Subject:* [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges
People may be interested to see how payments is being handled by the Central Bank of Brazil. Instant, fully interoperable, almost zero-cost. https://blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-publi...
On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention.
*Ali Hussein*
Fintech | Digital Transformation
Tel: +254 713 601113
Twitter: @AliHKassim
LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim>
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards,
______________________
Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva
_______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
_______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
The Brazilian case is super interesting. Regards *Ali Hussein* Fintech | Digital Transformation Tel: +254 713 601113 Twitter: @AliHKassim LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim> <http://ke.linkedin.com/in/alihkassim> Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with. On Thu, Feb 16, 2023 at 3:06 PM Rafe Mazer <rafe.mazer@gmail.com> wrote:
People may be interested to see how payments is being handled by the Central Bank of Brazil. Instant, fully interoperable, almost zero-cost. https://blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-publi...
On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention.
*Ali Hussein*
Fintech | Digital Transformation
Tel: +254 713 601113
Twitter: @AliHKassim
LinkedIn: Ali's Profile <http://ke.linkedin.com/in/alihkassim> <http://ke.linkedin.com/in/alihkassim>
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
After introduction of Bank to M-pesa charges; ATMs got heir grove back. More people started withdrawing to pay cash <https://www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early> to reduce their transaction costs.
Now, I&M Bank has permanently dropped levy fees <https://www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842> 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?
Best Regards, ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva _______________________________________________ KICTANet mailing list -- kictanet@lists.kictanet.or.ke To unsubscribe send an email to kictanet-leave@lists.kictanet.or.ke
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participants (6)
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Adam Lane -
Ali Hussein -
Barrack Otieno -
Liz -
Mwendwa Kivuva -
Rafe Mazer