[kictanet] I&M suspends online card transactions

Wed Oct 7 11:11:25 EAT 2015

Dennis

Tru that..

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 11:10 AM, Dennis Kioko <dmbuvi at gmail.com> wrote:
> 
> 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 <mailto: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 <mailto:ali at hussein.me.ke>
> 
> +254 713 601113
> Twitter: @AliHKassim
> Skype: Abu-Jomo
> LinkedIn: http//ke.linkedin.com/in/alihkassim <http://ke.linkedin.com/in/alihkassim>
> Blog: www.alyhussein.com <http://www.alyhussein.com/>
> 
> 
>> On Oct 7, 2015, at 10:44 AM, Bernard Kioko via kictanet <kictanet at lists.kictanet.or.ke <mailto: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 <http://keybase.io/kipyegonmark>
>> 
>> On 7 Oct 2015, at 09:41, kictanet-request at lists.kictanet.or.ke <mailto: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 <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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