3rd Euro-Africa Cooperation Forum on ICT Research Helsinki, Finland (Scandic Marina Congress Centre) December 7/8/2010

Transcription

1 3rd Euro-Africa Cooperation Forum on ICT Research Helsinki, Finland (Scandic Marina Congress Centre) December 7/8/2010

2 INFORMATION TECHNOLOGY CONSULTANTS Presenter: Kevin magondu Director Nairobi (kenya) Kampala (Uganda)

3 Mobile banking definition: Mobile banking is a form of banking that facilitates access to financial services thru mobility. using mobile units such as mobile phones or through web / internet access points using Computers/(laptops).

4 Challenges leading to mobile banking Several challenges in banking such as; - Access to basic banking services - money transfer services - Convenient banking options - Cheaper service charges Therefore innovative solutions/ platforms in I.C.T to provide these Services were adopted.

5 Mobile banking platforms innovative I.c.T solutions, such as; - Control money from control box. a mobile and web based money transfer solutions company. ( - Money transfer systems (mts) version 2.2 is a web based solution for money transfer. - White wings technologies (wwt) also provides mobile money transfer solutions. ( Other Bank Based solutions providing m-banking services (Iko-System for TELCOM Kenya)

6 The M-pesa solution Intro: M-pesa is one of the most successful mobile banking solutions in the world. A Vodafone and Safaricom Kenya ltd Product. Introduced in 2006 and later Launched in May of It Allows access to services such as; Cash Deposits, Withdrawals, Transfers, Airtime purchases, Bill payments, Goods purchases, A.T.M access, among others.

7 M-pesa product/ service options There are several (menu) options Available under this product/ service; - Send money - Withdraw - Buy airtime - Pay bill - Buy goods - A.t.m withdrawals - My account

8 Other m-pesa product/ service options Safaricom thru m-pesa has partnered with local banks to provide additional Services to their customers. M-kesho A product of Safaricom M-pesa and Equity Bank. Pesa Paap A product of Safaricom M-pesa and Family bank. K.C.B connect a product of safaricom m-pesa and Kenya Commercial Bank. Pata cash a product of safaricom m-pesa and post bank.

9 M-pesa across boarders Safaricom has gone even further to provide m-pesa services across the Kenyan boarders. - M-pesa in the United Kingdom (UK) Britain thru western union - M-pesa in the United Arab Emirates (Dubai) thru western union - M-pesa in Uganda (Kampala) - M-pesa in Tanzania (dar-es-salam) - M-pesa in Afghanistan thru operator roghan

10 M-pesa capacity M-pesa has capacities of; - A minimum deposit of 100/- kshs equal to 1 euro - A maximum deposit of 50,000/- kshs equal to 450 Euros - limited amounts of 35,000/- kshs equal to 315 Euros per transaction - a maximum transaction limit of 70,000/- kshs equal 630 Euros per 24 hours. All of these measures are put in place for security and cash controls against fraud, loss or theft.

11 Service charges There is a range of charges for cash Transfers within the network. They Range between; Lowest (30/- kshs = 0.27 euro) Highest (400/- kshs = 3.7 euro) Fixed charge (30/- kshs = 0.27 euro) for Registered to registered subscribers of the service only. A zero (0) charge to transfer money to An unregistered safaricom user.

12 M-pesa benefits This product/ service has several benefit; - Airline Bookings - Bill payments - Goods Purchases - Easy and cheap money transfers - Direct access to Bank accounts - Airtime purchases - A.T.M Withdrawals - Easy access to m-banking service providers (24 hr agents and a.t.m s), - Bulk payments e.t.c - Saving rural based farmers travel money to banks which are far

13 Other mobile banking products/ services available in East Africa - MOBILE MONEY : available thru mtn Uganda. - Airtel money :Available thru airtel in host countries;- Kenya, Uganda, Tanzania e.t.c - M-sente: available thru Uganda telecom (utl). - Orange Money (iko pesa): available thru orange Kenya.

14 prospects for mobile banking thru I.c.t The following are areas that mobile banking would grow thru I.C.T innovations; Medical Bill Payments Tax Payments Bill Payments e.g. water, electricity Hotel Bookings and Payments Loan Payments Cross Network Money Transfers with up to date forex rates Restaurant payments Bus and Train ticket bookings and payments International Money Transfers thru banks Among many others.

15 Conclusion Mobile Banking has provided many with access to basic banking services and solutions. Allowing those in rural and inaccessible areas access curtails financial services thru the technology of Mobile Phones to acquire services such as; - Withdrawal of received cash - Depositing where phones act as bank accounts among other available services. Thru mobile banking, i.c.t development and literacy has grown creating opportunities for many thru job creations.