Safaricom has pretty much taken over the e-commerce service sector in Kenya.
From paying (water/elec) bills, online purchases (local) and even air/bus/train reservations. 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?
-Billy
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 |
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
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
Skype : mark.mwangy _______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
-- A Cruce Salus
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
Skype : mark.mwangy
_______________________________________________
Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
-- A Cruce Salus
2009/11/9 Phares Kariuki <pkariuki@gmail.com>
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.
Am not entirely convinced with that as a valid reason. First of all looking at co-op, national and kcb banks alone, every ATM card is a Visa [electron] card which already caters for a large number of banking Kenyans. If time be the issue, am sure many people can contend with a 24hr delay before they receive the goods they ordered. I dont think this is a problem for most businesses - so long as they get their pay am sure 24hrs is not really an issue.
For most of the banks, they approached business as if they were doing the consumer a favour. Then it was difficult for most of us to try the above services without queues, moving from one office to another, a lot of paperwork. then mpesa came with the hassle free approach. Equity bank has provided most supermarkets with a facility that allows for shopping with their ATM card, though they have not been agressively marketing that. IMO, If you are a service provider and people have to come to your office to use your services, you have a problem. How many have gone to Google or Facebook offices or called them to use their services? -- with Regards: Get your free technology e-magazine in pdf format: Tekniaonline: http://bit.ly/tekniaonline-2 A Campus Perspective, Comically wrapped in Satire : http://gramware.blogspot.com
participants (6)
-
Bernard Owuor -
Billy -
Dennis Kioko -
Kipkemoi -
Mark Mwangi -
Phares Kariuki