The fight is on. I&M Bank removes Bank to Mpesa charges

Payment fees are a race to zero. Brands have to layer on other value-added
services to keep our attention.

*Ali Hussein*

Fintech | Digital Transformation

Tel: +254 713 601113

Twitter: @AliHKassim

LinkedIn: Ali’s Profile <>

Any information of a personal nature expressed in this email are purely
mine and do not necessarily reflect the official positions of the
organizations that I work with.

On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet <> wrote:

> After introduction of Bank to M-pesa charges; ATMs got heir grove back.
> More people started withdrawing to pay cash
> <,said%20in%20a%20statement%20early>
> to reduce their transaction costs.
> Now, I&M Bank has permanently dropped levy fees
> <>
> for transferring cash between its platform and mobile wallets, bucking the
> trend in the sector that has been reinstating the charges since January
> amid customer outcry. The move will save I&M customers between Sh10 and
> Sh65, the range the lender was charging after the Central Bank of Kenya
> (CBK) announced a return of charges on transactions between banks and
> mobile money wallets.
> Is the market adopting to consumer behaviour and correcting itself? What
> will the future look like on the cost of digital cash transfer charges?
> Best Regards,
> ______________________
> Mwendwa Kivuva, Nairobi, Kenya