On another but related note, it seems that police are also using pix to track down those who funded the protests (“insurrection” and therefore have seemingly broken the law) after the recent election in Brazil. This article is really interesting: www.reuters.com/world/americas/brazils-crowdfunded-insurrection-leaves-paper-trail-police-2023-01-16/
From: Rafe Mazer [mailto:firstname.lastname@example.org]
Sent: Thursday, February 16, 2023 4:00 PM
To: Adam Lane <email@example.com>
Cc: Kenya’s premier ICT Policy engagement platform <firstname.lastname@example.org>; Mwendwa Kivuva <Kivuva@transworldafrica.com>
Subject: Re: [kictanet] Re: The fight is on. I&M Bank removes Bank to Mpesa charges
Interesting points. can you share some sources for that?
On Thu, Feb 16, 2023 at 7:16 AM Adam Lane <email@example.com<mailto:firstname.lastname@example.org>> 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@example.com
Sent: Thursday, February 16, 2023 3:06 PM
To: Adam Lane <firstname.lastname@example.org<mailto:email@example.com>>
Cc: Mwendwa Kivuva <Kivuva@transworldafrica.com<mailto:Kivuva@transworldafrica.com>>; Rafe Mazer <firstname.lastname@example.org<mailto:email@example.com>>
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 <firstname.lastname@example.org<mailto:email@example.com>> wrote:
Payment fees are a race to zero. Brands have to layer on other value-added services to keep our attention.
Fintech | Digital Transformation
Tel: +254 713 601113
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 <firstname.lastname@example.org<mailto:email@example.com>> 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?
Mwendwa Kivuva, Nairobi, Kenya