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Mobile money users risk losses under new rules

An M-Pesa agent assists a customer in Nairobi. Safaricom introduced special SIM cards to reduce cases of sending money to wrong people. Photo/FILE

Mobile money users risk losing cash sent to unintended recipients if proposed regulations by the Central Bank of Kenya barring reversal of payments are passed into law.

The regulation is an effort to curb a loophole used by dishonest people to stop payments for goods or services they have received.

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