[kictanet] Kenya IGF 2011 Discussions Day 2 of 10 Mobile Payment Platforms

[Andrea Bohnstedt]

Lucy, unless the CBK has outdated information on its website, yes, there is
a deposit protection scheme - more info here:
http://www.centralbank.go.ke/FAQs/DepositProtectionFAQs.aspx

In the case of mobile money, the mobile operator does not keep any cash
itself - as far as I know, the cash is held in a trust account of a
commercial bank, which then technically makes it the responsibility of the
bank, not of the telco. If this is a single account, the sums is larger than
what the deposit protection scheme covers, but a trust account may have a
more protected status.

On 4 July 2011 17:18, Lucy Kimani <lkimani at yahoo.com> wrote:

> Victor,
>
> Agreed public interest is paramount in any policy regulatory framework for
> example protection for the consumers by requiring the mobile companies to
> carry insurance in order to protect and promote public confidence in the
> Mobile payments. Similar to the FDIC here in the US that insures depositors
> for at least $250,000 per insured bank; the FDIC identifies, monitors and
> addresses risks to the insurance funds limiting the effect on the economy
> and in case a bank fails. Somebody correct me if I am wrong but to my
> surprise CBK doesn't seem to have a simillar risk management framework in
> place for consumer protection should a Bank fail in Kenya?
>
> LK
>
>  ------------------------------
> * From: * Victor Gathara <vgathara at vimak.co.ke>;
> * To: * <lkimani at yahoo.com>;
> * Cc: * 'KICTAnet ICT Policy Discussions' <kictanet at lists.kictanet.or.ke>;
>
> * Subject: * Re: [kictanet] Kenya IGF 2011 Discussions Day 2 of 10 Mobile
> Payment Platforms
> * Sent: * Mon, Jul 4, 2011 12:58:11 PM
>
>   Barrack,
>
> Seamless money transfer across mobile networks I think the next step in the
> rung on mobile payment ladder. This will require policy and regulation to
> get the providers to set up a sort of 'clearance house' for the providers
> and ensure that all play ball and that the consumers are protected. There
> should be a balance between rewarding innovation (read mobile phone
> companies) and taking care of public interest.
>
> Victor
>
> -----Original Message-----
> From: kictanet-bounces+vgathara=vimak.co.ke at lists.kictanet.or.ke
> [mailto:kictanet-bounces+vgathara=vimak.co.ke at lists.kictanet.or.ke] On
> Behalf Of Barrack Otieno
> Sent: 03 July 2011 22:02
> To: vgathara at vimak.co.ke
> Cc: KICTAnet ICT Policy Discussions
> Subject: [kictanet] Kenya IGF 2011 Discussions Day 2 of 10 Mobile Payment
> Platforms
>
> Dear Listers,
>
> Mobile payment platforms continue to offer tremendous amount of services
> and
> innovation, with the ability to exchange, transmit and store data and
> content embedded within payments systems.
> .    What are the challenges in balancing consumer protection and
> regulatory oversight particularly regarding privacy and ownership of
> information/content and data?
> .    What is the role of policy and regulation for successful transition
> to new mobile payment channels?
>
> the floor is open, feel free to contribute to previous topics as we carry
> on
> with the discussion
>
>
> --
> Barrack O. Otieno
> +254721325277
> +254-20-2498789
> Skype: barrack.otieno
>
> _______________________________________________
> kictanet mailing list
> kictanet at lists.kictanet.or.ke
> http://lists.kictanet.or.ke/mailman/listinfo/kictanet
>
> Unsubscribe or change your options at
> http://lists.kictanet.or.ke/mailman/options/kictanet/vgathara%40vimak.co.ke
>
>
> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for
> people and institutions interested and involved in ICT policy and
> regulation. The network aims to act as a catalyst for reform in the ICT
> sector in support of the national aim of ICT enabled growth and
> development.
>
> KICTANetiquette : Adhere to the same standards of acceptable behaviors
> online that you follow in real life: respect people's times and bandwidth,
> share knowledge, don't flame or abuse or personalize, respect privacy, do
> not spam, do not market your wares or qualifications.
>
>
> _______________________________________________
> kictanet mailing list
> kictanet at lists.kictanet.or.ke
> http://lists.kictanet.or.ke/mailman/listinfo/kictanet
>
> Unsubscribe or change your options at
> http://lists.kictanet.or.ke/mailman/options/kictanet/lkimani%40yahoo.com
>
>
> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for
> people and institutions interested and involved in ICT policy and
> regulation. The network aims to act as a catalyst for reform in the ICT
> sector in support of the national aim of ICT enabled growth and development.
>
> KICTANetiquette : Adhere to the same standards of acceptable behaviors
> online that you follow in real life: respect people's times and bandwidth,
> share knowledge, don't flame or abuse or personalize, respect privacy, do
> not spam, do not market your wares or qualifications.
>
> _______________________________________________
> kictanet mailing list
> kictanet at lists.kictanet.or.ke
> http://lists.kictanet.or.ke/mailman/listinfo/kictanet
>
> Unsubscribe or change your options at
> http://lists.kictanet.or.ke/mailman/options/kictanet/andrea.bohnstedt%40ratio-magazine.com
>
> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for
> people and institutions interested and involved in ICT policy and
> regulation. The network aims to act as a catalyst for reform in the ICT
> sector in support of the national aim of ICT enabled growth and development.
>
> KICTANetiquette : Adhere to the same standards of acceptable behaviors
> online that you follow in real life: respect people's times and bandwidth,
> share knowledge, don't flame or abuse or personalize, respect privacy, do
> not spam, do not market your wares or qualifications.
>



-- 
Andrea Bohnstedt <http://ke.linkedin.com/in/andreabohnstedt>
Publisher
+254 720 960 322

www.ratio-magazine.com
Find/post East Africa careers<http://www.ratio-magazine.com/careers/index.php>
Find/post conferences, workshops, trainings, other business
events<http://www.ratio-magazine.com/businessevents/index.php>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://lists.kictanet.or.ke/pipermail/kictanet/attachments/20110704/78032b48/attachment.htm>