What is it exactly that is lacking within the banking sector such that one cannot go online and pay for any/all the above using their debit/credit card yet they can do it with mpesa which has only existed for a fraction of the time that banks have been in existence?

Problem with the merchants. Most people don't accept VISA etc because of the delay in getting cash. There is a 24 (not sure) or so hour delay from processing to payment. For many businesses, this is a problem. Additionally, it's a delay and customers with it are few and far between. Now, small business started accepting M-Pesa (practically instant) hence creating a situation where the masses accepted it, and the businesses as well had their instant payment plan.

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With Regards,

Phares Kariuki

| T: +254 734 810 802 | E: pkariuki@gmail.com | Twitter: kaboro | Skype: kariukiphares |