FinTech companies take on banks, telcos with Big Data arsenal

Use of smartphones has made it possible for tech firms to launch mobile-based financial services. FILE PHOTO | JOSEPH KANYI | NMG

Google, Apple, Facebook, and Amazon have all gone into the digital payments game. As have China’s Alibaba and WeChat.

Developing markets such as Kenya do not yet have the levels of Internet penetration and e-commerce sophistication to attract these online giants turned fintech entrepreneurs.

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