0
Wireless

Kenyan banks still lack mobile money platform approvals

Friday 6 January 2017 | 10:58 CET | News
Kenya's commercial banks' plans to launch a mobile money transfer platform to rival Safaricom's M-Pesa, Airtel and Orange Money have been hit by delays in receiving regulatory approvals, Business Daily reported. The Kenya Bankers Association (KBA) had planned to launch the Kenya Interbank Transaction Switch in August 2016 but has to date failed to do so, since none of its 43 members has received the go-ahead from the Central Bank of Kenya (CBK).

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Airtel Kenya / Orange Kenya / Safaricom / Telekom Kenya
Countries: Kenya
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Kenyan mobile money interoperability to begin in July

Published 08 May 2017 10:34 CET | Kenya
The Kenyan government says subscribers could be able to send and receives money between different telecommunication networks in ...

CBK directs banks to reduce transaction time on PesaLink

Published 27 Mar 2017 09:55 CET | Kenya
The Central Bank of Kenya (CBK) has directed banks to cut by half the time Kenyans take to transact on the lenders' mobile money ...

Ecobank Kenya brings out mobile banking application

Published 13 Feb 2017 11:25 CET | Kenya
Ecobank Kenya has launched the Ecobank Mobile App. The app integrates many functions, including Masterpass QR, a mobile payment ...

Kenyan Central Bank lets banks run own mobile money platform

Published 09 Feb 2017 09:32 CET | Kenya
The Central Bank of Kenya (CBK) has given six banks the green light to launch a mobile money transfer platform, Business Daily ...

Kenya's Equity Bank aims for 1 mln firms for EazzyPay

Published 27 Oct 2016 10:12 CET | Kenya
Kenya's Equity Bank plans to get at least one million businesses onto its EazzyPay service over the next three years, reports The ...

Mobile payments and water dispensing – a useful combination in Kenya

Published 10 Oct 2016 14:02 CET | Kenya
In the summer of 2015 Kenya introduced water dispensers in the slums of its capital Nairobi. About a year later cooperation ...

Betting craze lifts Kenya's mobile money to 20% growth

Published 01 Sep 2016 16:20 CET | Kenya
The volume of cash moving through Kenya's mobile money transfer platforms grew by a fifth in the first six months of 2016, ...

Central Bank of Kenya studies mobile lending rules

Published 02 Jun 2016 10:08 CET | Kenya
The Central Bank of Kenya (CBK) is conducting a study on the impact of its policies and regulations on lending through mobile ...

Kenya's mobile money transfers grow 19% in 2015

Published 25 Feb 2016 16:54 CET | Kenya
Kenya's volume of money moved through mobile money transfer platforms grew by 19 percent to KES 2.8 trillion in the 12 month to ...