I was at the brief before the launch, so I have a bit on it, including the press release from the launch. I can give my views here on what the product looks like, but I prefer starting it as a separate thread with all the details about the product including my views. I can take questions here and respond here, but in the new thread I will detail everything, including anything I discuss here. Now that’s cleared up.
Equity Bank is not on the list but they say it’s on the way. At re-launch only six banks are ready to go, they had already trialed with Family Bank in Q1, now added 5. Their biggest challenge is signing up merchants, they list a few big names like Nakumatt, Imax, Zuchinni and Kenya Airways. They also offer free peer to peer money transfers for a certain period. The other challenge is that they need people to be using banking apps or their mobile money product, and harmonizing the experience, since as much as they can ensure the service works the same way on all the apps, banks have been serving their customers different on these apps.
And now there is mVisa, Pesalink, Mpesa, Equitel and cash. We don’t know yet what Telkom Kenya’s mobile money product is going to look like.