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

On Thu, Feb 16, 2023 at 7:16 AM Adam Lane <[email protected]> wrote:

> Pix also offers an interesting case study because of how such a convenient
> system led to increased fraud and increased crime requiring a variety of
> technical measures to mitigate. I am not saying it is a bad thing at all,
> but I am saying it is important to understand the negative consequences of
> mobile money that can arise (thankfully not so much in Kenya, yet)…
>
>
>
> *From:* Rafe Mazer via KICTANet [mailto:[email protected]]
> *Sent:* Thursday, February 16, 2023 3:06 PM
> *To:* Adam Lane <[email protected]>
> *Cc:* Mwendwa Kivuva <[email protected]>; Rafe Mazer <
> [email protected]>
> *Subject:* [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa
> charges
>
>
>
> People may be interested to see how payments is being handled by the
> Central Bank of Brazil. Instant, fully interoperable, almost zero-cost.
> blog.mondato.com/brazils-pix-should-instant-payment-rails-be-a-public-good/
>
>
>
> 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>
>
>
>
>
>
>
> 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 <
> [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
>
>