Case Study Of M Pesa
Covid was supposedly a boost to mobile money use in Kenya after the Central Bank of Kenya Off allowed free M-Pesa and mobile banking transactions until the end of the year. However, Safaricom is apparently not thrilled by the possibility that this ruling may be extended into After all, this should encourage new customers to adopt cashless payment, while also reducing the health risks involved in handling money.
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Bank-to-mobile-phone transactions also saw their charges removed. But Safaricom and the banks have apparently lost billions of shillings on the free service. More info with Covid nowhere near under control yet there has recently been a spike in Covid cases in Kenyathe CBK may feel obliged to extend the scheme, a prospect that is evidently worrying mobile banking and payment enablers.
To make thing worse, canny customers have reportedly been splitting high-value M-Pesa transfers into multiple transactions to avoid paying any fees. As we reported Case Study Of M Pesa Sudy, Safaricom is expected to revise down its bid for an operating licence in Ethiopia following the revelation that mobile money offerings will be the exclusive preserve of local financial institutions.
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