Mpesa takes on Banks with Mpesa Prepaid Card

 

lipa na mpesa cardToday, Mpesa announced it was piloting an Mpesa Payments Card, a  Lipa na Mpesa prepaid card. Mpesa card was inevitable, given the Kenyan local cards versus mobile payments turf wars pitting Kenyan Banks on one end vs Safaricom.

Techweez reported,

“The card, mirrors a user’s M-Pesa account, meaning whatever amounts are in your M-Pesa wallet are reflected in the card.”

 

[Read more…]

Digital payments in East Africa (Part I): Card payment alternatives

Card payment alternatives in Kenya by pesa-africa

Card payment alternatives in Kenya by pesa-africa

Kenya and East Africa are actively transitioning to cashless payments systems. East Africa’s economies are largely cash based informal economies with its associated costs. Challenges in aggregating national transaction data, consumer spending patterns, tax administration there is really no shortage of incentives.

With no means to track sales, little data is available, and channels are too fragmented for companies to forecast production and distribution with any degree of accuracy.
Niti Bhan

Policy makers, governments, central bankers and the private sector are looking to cash in on the benefits of culturing digital payments for the Kenyan market; a variety of emoney and digital currency payment options thrive in Nairobi – the capital.

Central Bank of Kenya data reveals a total of 10million cards in circulation as at January 2013 in the local card payments industry.

Here is a basket representative of card payment alternatives in Kenya. [Read more…]