Kenya banks lose $11m card payment revenues to telcos
The East African Tuesday January 19 2021 An ATM booth. Most customers in Kenya opted to use mobile money over debit or credit cards in the wake of the pandemic. PHOTO | FILE | NMG Summary Customers stopped using debit, credit and prepaid charge cards in favour of mobile money payment platforms such as M-Pesa, whose transactions of up to $9.17 were free. Advertisement Top banks in Kenya have raised a red flag over an expected significant drop in net earnings for the year 2020. They cite deteriorating economic conditions and the Covid-19 containment measures, which have seen the entire banking...
Source: theeastafrican.co.ke