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

On Thu, Feb 16, 2023 at 1:09 AM Ali Hussein via KICTANet <
[email protected]> wrote:

> 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 <ke.linkedin.com/in/alihkassim>
> <ke.linkedin.com/in/alihkassim>
>
>
>
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> 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.
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>
> On Wed, Feb 15, 2023 at 5:02 PM Mwendwa Kivuva via KICTANet <
> [email protected]> wrote:
>
>> After introduction of Bank to M-pesa charges; ATMs got heir grove back.
>> More people started withdrawing to pay cash
>> <www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early>
>> to reduce their transaction costs.
>>
>> Now, I&M Bank has permanently dropped levy fees
>> <www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842>
>> 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
>> www.linkedin.com/in/mwendwa-kivuva
>>