[kictanet] Banks’ plan to set up mobile money transfer platform stalls - Corporate News

[Grace Mutung'u (Bomu)]

This would definitely spur competition in mobile money Ali. It is also
unprecedented on the part of banks and it is innovation that the Regulator
should have room for.

Relatedly, there is an emerging niche of startups-payment exchange apps-
where users link the app to their debit card and they can easily exchange
money among themselves. Some apps are completely free for the user while
others charge a percentage. See this article comparing apps Square Cash,
Venmo (owned by Paypal), Google Wallet and Paypal.

A convenient cashless economy.

http://www.wsj.com/articles/SB10001424052702304536104579558071421978060


2017-01-04 10:17 GMT+03:00 Ali Hussein via kictanet <
kictanet at lists.kictanet.or.ke>:

> Listers
>
> This is an interesting one. An excerpt from the story in the Business
> Daily:-
>
> The *Business Daily* has learned that KBA member banks submitted their
> product and system proposals to the CBK in July ahead of the planned August
> launch date, seeking approvals.
>
> Such authorisations, which are ordinarily issued after a maximum of one
> month, are however yet to be issued, delaying the launch of a product that
> promises to revolutionise the financial services sector.
>
> Read on:-
> http://www.businessdailyafrica.com/Corporate-News/mobile-money-
> transfer-platform-stalls/539550-3505860-item-0-9h14j8/index.html
>
> As a matter of public interest it would be interesting to know why there's
> been such a delay in the regulatory approval of such a game changing
> initiative for the banking sector.
>
> Anyone who has an inkling on the workings at the Central Bank? It seems to
> me that 7 months waiting for an approval is simply too long...
>
>
> *Ali Hussein*
> *Principal*
> *Hussein & Associates*
> +254 0713 601113 <+254%20713%20601113>
>
> Twitter: @AliHKassim
>
> Skype: abu-jomo
>
> LinkedIn: http://ke.linkedin.com/in/alihkassim
>
>
> "Discovery consists in seeing what everyone else has seen and thinking
> what no one else has thought".  ~ Albert Szent-Györgyi
>
> Sent from my iPad
>
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-- 
Grace L.N. Mutung'u
Skype: gracebomu
Twitter: @Bomu

<http://www.diplointernetgovernance.org/profile/GraceMutungu>

PGP ID : 0x33A3450F
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