[kictanet] I&M suspends online card transactions

Wed Oct 7 11:10:06 EAT 2015

Read the article, they have just changed from enabling cards by default to
enabling them on request.

Enabling by request is what most local banks do, including KCB, Equity,
Co-op.

Enabling by default means that while only 10% of your customers ever need
that functionality, 90% have it and are not aware of associated risks.

Therefore makes sense to only enable on request .

Unfortunately, headlines tend to be written to make you read the story -
and people tend to draw conclusions from headlines.

On Wed, 7 Oct 2015 10:49 Ali Hussein via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> 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
> <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
> 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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> regulation. The network aims to act as a catalyst for reform in the ICT
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