Kenya Government to Launch Payments Body to Enable Money Transfer Across All Networks

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The Kenya government is to set up a Payment Service Provider Management Body expected to allow Kenyans transfer cash across all mobile networks.

The body if set up would consist of Central Bank of Kenya, Safaricom, Airtel Kenya, Orange, yuMobile and the Postal Corporation of Kenya (PCK)  and would be in charge of interconnection charges and sharing liability of the transactions among the mobile network operators and PCK.

Following the success of Safaricom’s M-Pesa, the new system would bring together forms of electronic money services in the country. The system is also expected to end Safaricom’s monopoly over the mobile money market via its award-winning mobile money transfer service M-Pesa used by over half of the country’s population.

You can read more about the bill, here and here.

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

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