Great Read. Thanks!

From: Kipkemoi <kip@kipkemoi.com>
To: Skunkworks Forum <skunkworks@lists.my.co.ke>
Sent: Mon, November 9, 2009 3:52:47 AM
Subject: Re: [Skunkworks] Banks vs MPesa

http://en.wikipedia.org/wiki/Disruptive_technology

On Mon, Nov 9, 2009 at 11:27 AM, Mark Mwangi <mwangy@gmail.com> wrote:
Am thinkin the banks are just too lazy or traditional / arrogant . . .
Theres no reason why they couldnt have developed a "kenyan api" or
system that would be used for local purchases /transactions such that
I can buy stuff from nakumat from my bedrum using my member acc. Then
maybe collect it or have it delivered . . . Its only after equity
catered for all that the other bigshots started hawking loans to
hawkers . . . Or maybe that has been an opportunity that has been
lying there for an enterpreneur to exploit . . . . We dont need VISA
to buy a kenyan product from a kenyan site usin funds from an account
in a kenyan bank . . . . If only I thot like this some years ago . . .
.

On 11/9/09, Phares Kariuki <pkariuki@gmail.com> wrote:
>> 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.
>
> --
> With Regards,
>
> Phares Kariuki
>
> | T: +254 734 810 802 | E: pkariuki@gmail.com | Twitter: kaboro | Skype:
> kariukiphares |
>


--
Regards,

Mark Mwangi

http://mwangy.wordpress.com

Skype : mark.mwangy



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A Cruce Salus