[kictanet] I&M suspends online card transactions

Ali Hussein ali at hussein.me.ke
Wed Oct 7 10:48:51 EAT 2015


Listers

Actually that story may be alarmist. Spoke with someone from I&M and they will be clarifying the position.

Thanks & Regards

Ali Hussein
ali at hussein.me.ke

+254 713 601113
Twitter: @AliHKassim
Skype: Abu-Jomo
LinkedIn: http//ke.linkedin.com/in/alihkassim
Blog: www.alyhussein.com

> On Oct 7, 2015, at 10:44 AM, Bernard Kioko via kictanet <kictanet at lists.kictanet.or.ke> wrote:
> 
> Mark,
> 
> Although I am not defending the position I am going to try reason....
> 
> Imagine is you have a service that genates say KES5m a month....over 3
> months that's 15m... but then on month 4 you are hit by fraud worth 20m.....
> Just as an example. I don't actually know the details around the suspension.
> 
> The risk might just be too high....which is a really sad thing for Kenya's
> ecommerce space.
> 
> Regards
> 
> Bernard
> 
> -----Original Message-----
> From: kictanet
> [mailto:kictanet-bounces+bkioko=bernsoft.com at lists.kictanet.or.ke <mailto:kictanet-bounces+bkioko=bernsoft.com at lists.kictanet.or.ke>] On Behalf
> Of Mark Kipyegon via kictanet
> Sent: Wednesday, October 07, 2015 10:38 AM
> To: bkioko at bernsoft.com <mailto:bkioko at bernsoft.com>
> Cc: Mark Kipyegon
> Subject: [kictanet] I&M suspends online card transactions
> 
> Is it a viable solution to suspend the service to paying customers? The risk
> cited in the article is not a new thing in that particular industry.
> 
> --
> keybase.io/kipyegonmark
> 
> On 7 Oct 2015, at 09:41, kictanet-request at lists.kictanet.or.ke wrote:
> 
>> 
>> 
>> Listers
>> 
>> Interesting story about the pitfalls of ECommerce payments. 
>> 
>> 
> http://www.businessdailyafrica.com/Corporate-News/I-M-Bank-suspends-online-c
> ard-payments/-/539550/2901814/-/k38ilvz/-/index.html
>> 
>> As one of the few acquirers (The others are Barclays and KCB, soon to be
> followed by Chase Bank) this doesn't auger well for online card payments in
> the country. 
>> 
>> Fortunately for us we have other payment gateways we can use. 
>> 
>> I'm curious to know what impact this will have on eCommerce in the
> country. Anyone can share insights?
>> 
>>> 
> 
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