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Banks’ plan to set up mobile money transfer platform stalls
Nuru Mugambi, Kenya Bankers’ Association director of communications and public affairs. PHOTO | DIANA NGILA
Commercial banks’ plans to launch a mobile money transfer platform to rival Safaricom’s M-Pesa, Airtel and Orange Money have been hit by delays in receiving regulatory approvals.
The Kenya Bankers Association (KBA) had planned to launch the Kenya Interbank Transaction Switch in August but has to date failed to do so since none of its 43 members has received the go-ahead from the Central Bank of Kenya (CBK).
