Someone just brought me a M-KESHO brochure so am listing its contents, incase you wanted to know more ( sry, do not have access to a scanner at the moment ):

 

How do I open an M-KESHO account:

- U must be a registered mpesa subscriber

- Go to any Equity Branch outlets or selected Mpesa agents

- Fill an account opening form

- Applications will be vetted by Equity bank. Will take 48hrs from the time you filled the app form to opening your m-kesho account

- If your application is successful, and the ID number used to open your m-kesho account is similar to the one used to open your mpesa account, you will receive an SMS to update your mpesa menu

- Update your mpesa menu and you will receive your m-kesho menu alongside the normal mpesa menu.

 

" You can also query mini statements and balance query from your mpesa account" is a line I find quite interesting and helps kenyans query any un-authorized transactions, in my view.

 

For me personally, just one question remains unanswered = Can the systems be trusted enough to ensure there is faith in them? As I wrote earlier, this is something that only a systems certification authority can answer but we dont have one. It is time that CCK should consider a "bonded systems" approach to telco billing systems where they are required to comply with the laws on data security, integrity, backup and implementations. These billing systems are "sealed" just like your water/electricity meters. That seal would create a lot of confidence in the market because you have to trust someone did their job well and not wake up in the morning and find your hard earned savings wiped out by a system error. Ofcurse you will get the money back but what about if it happens to millions of accounts? Unfortunately this can happen and is a reality of innovation. How prepared are we on such matters?

 

Rgds.