First launched in Kenya in 2007, m-pesa is now used by more than 18 million people across 13 countries to perform banking and money transfer services via mobile phone. Vodacom introduced m-pesa to South Africa in 2010 and while the initial take up was strong with more than one million people signing up, it hasn’t
A comprehensive survey of U.S. bank customers conducted for FICO , a leading predictive analytics and decision management software company, found that 82 percent of mobile banking app users are satisfied with their bank, compared with only 71 percent among those who do not use a mobile banking app, and 76 percent of the mobile
The Communications Authority of Kenya has cleared Equity Bank to start operations of its mobile phone and cash transfer service before it resolves a petition filed by leading telecommunications provider Safaricom, which is was opposed to the bank using ultra-thin SIM cards. According to the Business Daily, the CAK maintains Equity will only be able
Fiserv, a leading global provider of financial services technology solutions, has released a white paper that provides financial institutions with a roadmap for supporting mobile payments. Titled “The Four Pillars of Mobile Payments: Immediate Opportunities,” the white paper outlines how a strategic approach to mobile payments starts with the services consumers are using today. While
First Data, the global leader in payment technology and services solutions, has taken a key step to provide consumers with spending flexibility and help businesses grow through the acquisition of Gyft Inc, the Silicon Valley-based company that entered the $100 billion gift card market in 2012 and pioneered the concept of a mobile wallet for
The Communications Authority of Kenya (CAK) has ruled in favour of Airtel after the company accused its rival Safaricom of anti-competitive practice, a move coming weeks after Safaricom had decided to open up the network. The CAK has also prohibited the mobile operator from levying extra charges on competitors using its network. This brings to
Europe’s mobile operators could save millions of Euros per year with better management of mobile payments compliance, claims Empello. In the UK, a market with 80 million mobile subscribers, Empello estimates that £400,000 could be saved per year by the big four UK operators, just from the reduction in call centre costs. Across Europe, a
Nairobi residents will no longer have to contend with long queues when paying for services after the county government launched an e-payment platform to ease payments and streamline revenue collection. Among the services targeted are matatu seasonal ticketing, rent collection and market stalls. In his speech during the launch Governor Evans Kidero said the e-payment
Leading Kenyan operator Safaricom will not have to cut fees on making M-Pesa transactions across networks after the Competition Authority declined to order a reduction as petitioned by rival Airtel. HumanIPO reported earlier this month the Competition Authority of Kenya was reviewing a case brought by Airtel, with the country’s second operator asking the authority
The Kenya Bankers Association has launched its “Credit Calculator Online” website and mobile application informing loan applicants of the components that make up the total cost of credit as a percentage – known as the Annual Percentage Rate (APR). Both the site and the app were developed by the KBA in conjunction with the industry’s
